Metaponto was founded by Greek colonists from Achaia in the second half of the 7th century BC. This was at the request of colonial reinforcement directly from the mother country, by Sibari, to protect itself from the expansion of Taranto. It soon became one of the most important cities of Magna Grecia.

The city's economic wealth came mainly from its territory's fertility, testified by the barley ear, a symbol of the city itself, which was depicted on Metaponto's coins and sent to Delphi as a gift.