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New York & Tri-State  + Downtown New York  + Finance  |  June 8, 2022
Ted Jackson
By: Ted Jackson

NFT Market for Virtual Real Estate Parcel Raises $4M in Seed Round

Parcel, an NFT marketplace for virtual real estate, has raised $4 million in a seed round led by  Framework Ventures, a venture capital firm known for its early entry into Web3 and decentralized finance, DeFi. 

 Additional participants in the round include Fifth Wall, Blizzard Fund (Avalanche), AVIV Group (Axel Springer), AppWorks, Great Oaks, and Serafund; as well as an impressive roster of angel investors including Aaron Wong (SoftBank), Sebastien Borget (The Sandbox), and Santiago Santos. 

Parcel launched in July 2021 amid a virtual real estate market that generated more than $500 million in sales in the 2021 calendar year and has already surpassed $1 billion in sales during the first half of 2022.  

“The ongoing growth of the digital land ecosystem presents endless opportunities for creators and investors,” said Noah Gaynor, co-founder and CEO of Parcel. 

By aggregating digital land listings and architectural services for virtual landowners, sellers, and builders, Parcel is the first comprehensive marketplace tailored exclusively for the virtual real estate economy, the company said. 

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About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.
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