UAE-based Everdome, a hyper-realistic metaverse recently announced that GEM Digital Limited, a Bahamas-based digital asset investment company that sources, structures and invests in utility tokens listed on over 30 CEXs and DEXs globally, has consented to an investment of US $10 million into the metaverse company via a structured token subscription agreement.
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 with GEM, 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 is in a very exciting place, and together with GEM we’ve taken the next step in order to build our metaverse ecosystem to the next level.”
This recent announcement comes amidst a period of elevated 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%) 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.
GEM Digital Limited’s investment will be utilised mainly on the company’s 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. More information can be found on the company’s website.