Everdome secures US$10 million investment to expand metaverse platform – SME10X

10X Technology
Everdome has announced that Global Emerging Markets (GEM) Digital Limited, a digital asset investment firm, has agreed to an investment commitment of US$10 million into the UAE-based metaverse company, through a structured token subscription agreement. Everdome will control the timing and the number of drawdowns under this facility, and has no minimum drawdown obligation. At its discretion, Everdome has the ability to sell up to 200 percent of its average daily volume, in tokens across multiple exchanges to GEM Digital.
GEM’s investment will be focused on team growth and metaverse technological expansion, and will see the game’s virtual reality (VR) capabilities set on a fast track. Funds will also go towards boosting marketing efforts, partnership enablement, and investments that will aid Everdome’s sustainable growth.
Set to launch in three phases throughout 2022, Everdome takes users on an immersive journey from Hatta in the UAE to colonize Mars in Everdome City. The metaverse platform leverages cutting-edge 3D scanning technology and Epic Games’ Unreal Engine 5 to deliver state-of-the-art, photo-realistic graphics that will leave players wondering about the boundaries between gameplay and reality.
The announcement comes during a period of heightened activity for Everdome, particularly in terms of its product roll-out and the company’s auction of metaverse land plots. Since June 2022, a total of 11,700 plots (97 percent) located throughout the Everdome metaverse were sold throughout an eight week auction experience. In total, plots were purchased for upwards of US$18.6 million, which is equivalent to 1,531,000,000 $DOME, Everdome’s own digital currency. The average price of a plot of land in Everdome was 130,000 $DOME.
According to Rob Gryn, CEO and Founder of Everdome, the commitment from GEM will be used to strengthen Everdome’s offering and ensure future sustainability in the business. “We’re thrilled to partner with and achieve this investment commitment milestone, which confirms that we’re on the right track as we seek to push new boundaries in the metaverse. This is the perfect time for us to put our foot on the gas and really grow our product, which GEM’s investment commitment will help us to do.”
Everdome will deliver a real-world-extended experience – pulling on the talents and vision of renowned concept artists, game creators, 3D designers, Hollywood VFX specialists, urban planning professionals, a development team that has been delivering graphics and effects for more than a decade, and a marketing team that has already found bounds of success in numerous industries.
by Mita Srinivasan
by Mita Srinivasan
by Mita Srinivasan
by Mita Srinivasan
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