The hyper-realistic metaverse creator, Everdome, has announced that Global Emerging Markets (GEM) Digital Limited, a digital asset investment firm, has committed to investing US$10 million into the UAE-based startup.
The deal will be carried out through a structured token subscription agreement where Everdome will control the timing and the number of drawdowns. There is no minimum drawdown obligation, and the company can, at its discretion, sell up to 200 percent of its average daily volume in tokens across multiple exchanges to GEM Digital.
The funding from GEM will allow for team development and metaverse technology advancement, and it will hasten the game’s virtual reality (VR) capabilities. Additionally, the company will use the money to increase marketing initiatives, allow partnerships, and make investments that will support Everdome’s long-term expansion.
Everdome will launch in three parts throughout 2022, taking viewers on an immersive trip from Hatta in the United Arab Emirates to the colonization of Mars in Everdome City. The metaverse platform uses advanced 3D scanning technology and Epic Games’ Unreal Engine 5 to generate cutting-edge, photorealistic images that will have users questioning the distinction between virtual reality and reality.
Everdome has seen increased activity, notably concerning the launch of its products and the company’s auction of metaverse land parcels. Since June 2022, 11,700 plots (or 97%) spread around the Everdome metaverse have been sold during an eight-week auction process. Over US$18.6 million, or 1,531,000,000 $DOME, Everdome’s digital currency, was spent on plot purchases.
“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,” said Rob Gryn, CEO and Founder of Everdome.
Everdome will provide a real-world-extended experience by utilizing the skills and creativity of renowned concept artists, game developers, 3D designers, Hollywood VFX experts, urban planning experts with a development team that has been delivering graphics and effects for more than a decade, and a marketing team that has already found boundless success in several industries.
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