NFT OASIS Receives $4.4M in Financing to Integrate DeFi and VR for NFT Creators

California-based Non-fungible Tokens (NFTs) decentralised platform NFT Oasis announced Thursday that it has received the first round of funding from $4.4 million.

Reportedly, this investment was led by 32 top blockchain investors, including Leminscap, CitizenX Crypto Ventures, FlamingoDAO, and ID theory.

The funds collected this time will be used to combine virtual reality (VR) and decentralised finance (DeFi) to provide art creators with more creative freedom, commercial control, and financial success and to be able to use virtual reality for the creation of non-fungible tokens (NFT).

Will O'Brien, the CEO and Co-Founder of NFT Oasis, said that:

“Artists shape our collective culture and move generations forward. With NFTs, DeFi, and VR, we can disrupt the existing models that exploit creators, and instead fuel a revolution that will lead to the next renaissance."

Founded in March 2021, NFT Oasis is an NFT platform that focuses on developing the infinite possibilities of artistic expression and provides art creators worldwide with their works.

NFT Oasis has welcomed more than 200 artists and musicians to show their works to their fans in VR since April in accordance with the report.

The flagship platform of NFT Oasis is called AltspaceVR, a social VR platform owned by Microsoft. This virtual world platform has all the best social features, such as custom avatars, real-time voice and interaction, and events. It provides users with a channel to use Oculus VR headsets and PC/Mac to access NFT Oasis to watch live broadcasts and recorded content.

NFT Oasis also stated that their team is actively launching a smart contract-based system for creators and the community to establish the economics of their work and the permission of their Metaverse experience.