The Venture Codex

Participated · Seed · Dec 2023

Metagood develops Osura, a curated marketplace and infrastructure for art and other assets on Bitcoin using the Ordinals protocol. The platform debuted with Ordinals collections including OnChainMonkey (OCM) Dimensions and the Asprey Bugatti Egg Collection. Metagood has built technical innovations such as recursive inscriptions and inscribed code libraries (p5.js, Three.js) to enable modular programming and lower Bitcoin fees for creators. The company plans to forge partnerships with artists and luxury brands, expand its engineering and marketing teams, and support artist launches on Osura in 2024. Metagood has raised $5 million in a Series Seed round as part of a broader $10 million in financing to date. Leadership includes CEO Danny Yang, COO Amanda Terry, and chairman Bill Tai, who bring extensive experience in crypto, startups, and investing. Metagood builds social-impact NFTs, including its flagship OnChainMonkey collection, and operates a DAO that funds grassroots charitable projects. The company has used its token ecosystem to raise 2,000 ETH in one year through the DAO and distributed 70 ETH (about $90,000) to 42 projects during its Season 1. Metagood says it has been profitable off its pre-seed and is sitting on over 4,600 ETH from primary mint and secondary trading revenues. The team intends to use new capital to grow the company, hire talent, and build community tools around OnChainMonkey. Metagood emphasizes micro charity grants that can be deployed quickly and expects to scale the number of small grants over time. The startup positions web3 as a mechanism to create an "economy of good karma," combining charitable rewards with NFT value.