Curiosity across the Metaverse has blowup in the last few months, and prominent investors are now supporting some of the emerging builders in the space. Everyrealm is one such company, and now the metaverse land investor/builder has multiplied its list of celebrity sponsors.
Everyrealm—previously known as Republic Realm revealed that musician – The Weeknd, actor – Will Smith (via his Dreamers VC), singer – Marc Anthony, and German soccer player – Mario Götze have invested in the company in recent weeks.
The add-ons come following Everyrealm’s publication last month of a $60 million Series A round led by Andreessen Horowitz’s a16z crypto fund. That round also involved promoters like Coinbase Ventures, Lightspeed Venture Partners, NBA Top Shot creator Dapper Labs, and Animoca Brands.
Everyrealm confirmed to Decrypt that these celebrity investors and others came on after the early Series A news, increasing the final total for the round to $62.5 million. The company didn’t disclose a specific valuation but stated that the Series A values Everyrealm at “hundreds of millions” dollars.
Other new investors in the company comprise music producer – Pro Logic, NBA player – Miye Oni, entrepreneur – Hannah Bronfman, and rapper/producer – NAV. In addition, Everyrealm credited Andreessen Horowitz’s Cultural Leadership Fund with enabling introductions to The Weeknd, Smith’s Dreamers VC, and others.
Earlier announced celebrity investors in Everyrealm involve socialite and entrepreneur – Paris Hilton, KISS rocker – Gene Simmons, rappers – Nas and Lil Baby, and film producer – Jeffrey Katzenberg.
“Having such a proficient roster of people on our cap table is an honor and an indication of the allure of the metaverse opportunity, one where artists and performers can foster direct associations with their communities,” Everyrealm CEO Janine Yorio stated in an announcement.
Everyrealm capitalizes on virtual land plots sold as NFTs in expanding metaverse worlds, like The Sandbox and Decentraland. The firm holds over 3,000 NFTs across 25 metaverse platforms and has started building space and other locations.
For example, Everyrealm’s Fantasy Islands resort project in The Sandbox consists of over 100 villas and a yacht that sold 149 ETH (approximately $650,000 at the time of sale). Some $501 million worth of NFT virtual land was sold in 2021, according to the data from MetaMetric Solutions, and demand scaled expressively late after Facebook rebranded itself as Meta.
The metaverse refers to a more immersive future version of the internet, in which users will interact with 3D avatars as they work, play, and socialize. Many crypto firms and projects are developing in the space, with NFT assets—land, avatars, and artwork, supposed to be a big part of an interoperable metaverse spanning several spaces.
Some of the famous Everyrealm’s celebrity investors are already engaged in the NFT space. For example, last year, the Weeknd (a.k.a. Abel Tesfaye) joined the NFT platform Autograph’s board of directors and released his own NFTs through multiple marketplaces. Hilton has also published several NFT projects and is lately associated with The Sandbox.
Author: To The Verge Team
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