SodaWorld, the first and only metaverse venue in Africa, has received venture capital funding from CV VC, a venture capital firm based in Switzerland. SodaWorld was also chosen as one of only two global initiatives to be displayed as a special project at the Venice Biennale’s Venice VR programme.
Here’s What You Need To Know
- On September 2, SodaWorld will broadcast a musical experience that is proudly South African-curated, live from the Soda Studios in downtown Johannesburg.
- A dual VR version of this live music performance will be available for guests in Venice thanks to the SodaWorld immersive VR technology and VRChat capabilities.
- Visitors visiting Venice will be exposed to a variety of diverse African flavours, from DJs who specialise in Afrotech to rappers who specialise in languages and traditional instruments.
“Featuring Soda as one of our two worlds where a live event will be held especially for Venice Immersive is a very exciting strong point of our overall selection. Soda is a vibrant hub of immersive creativity in South Africa, both IRL and online. Leading the way in exploring hybrid events, breaking grounds in what the metaverse is becoming, Soda is a totally unique and brilliant initiative that we are extremely proud of bringing to our worldwide audience,” Liz Rothenthal, curator Venice VR, Venice International Film Festival said, about the rationale for this selection.
Why The Investor Invested
The premise for the investment from CV VC is SodaWorld’s distinctive feature, which was recently released via a beta version of the Sodaworld.tv platform, a Twitch and Netflix-style portal that enables artists to engage an online audience.
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“CV VC is a blockchain tech early-stage VC headquartered in the world’s most mature blockchain hub, ‘Crypto Valley’, Switzerland. We invest in startups who demonstrate a capability to transform the way the world interacts and transacts using blockchain technology. The dynamic team at SodaWorld have shown the energy, determination, and industry expertise to do just that for artists and creators. Core to blockchain is its ability to build trust. The entertainment and performance sector needs to rebuild trust, especially from the creator’s perspective. The SodaWorld platform can achieve this and more, new revenue streams for creators,” Olaf Hannemann, chief investment officer and co-founder of CV VC said, of the investment in SodaWorld:
A Look At What SodaWorld Does
Soda World, founded by longtime technology and creative industry innovator Mic Balkind during lockdown in 2020, is a technology platform designed and developed in Africa that enables artists to profit from the metaverse.
Over 60 virtual events have already been produced by Soda World in the Metaverse with top South African artists like Moonchild, Yvonne Chaka Chaka, Sun El Musician, and Msaki, reaching over 6,000 people on the beta platform with an average watch time of one hour and nine minutes.
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From its SodaStudio in central Johannesburg, a high-tech studio that connects creators to the offline metaverse, SodaWorld broadcasts live content.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh