There’s gold in them thar metaverse hills. At least, that’s what investors hope, and they’re backing promising startups with significant funding rounds to help them find it.
The latest example is Everyrealm, a metaverse startup that has just rebranded (from Republic Realm – a sensible move given the recent legal dispute between its parent company and Universal Music Group) and raised a $60m Series A funding round. Everyrealm isn’t a virtual world in itself: it’s more of a real-estate developer in other people’s virtual worlds: The Sandbox, Decentraland and more.
For example: “Fantasy Islands, an ultra-luxury master planned community in The Sandbox which sold an associated NFT megayacht for 150 ETH ($650,000)” Truly a sentence to conjure with. Anyway, Everyrealm is buying virtual land and building shopping, learning, gaming and entertainment experiences in those worlds.
Music artists are among its backers too: Nas, Gene Simmons and Lil Baby for example. The company is also flagging the fact that this is one of the largest Series A funding rounds for a company with a female CEO.