According to Foresight News, Hong Kong-based Web3 music startup, Star Nest, has successfully raised $6 million in a Pre-A funding round. The round was led by Chuangqi International Limited, a wholly-owned subsidiary of Hong Kong Stock Exchange-listed company Guofu Innovation Limited.
In collaboration with Armonia Meta Chain, Star Nest plans to develop a metaverse game, Star Nest SpaceStar, which will incorporate music, role-playing, and social features. Furthermore, Star Nest's token, NEST, is set to be listed in the third quarter. With a total of 21 billion tokens, NEST can be used for purchasing concert tickets, blockchain collaboration, metaverse consumption, and governance voting.