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The platform, dubbed “one of the most active investors in and developers of the metaverse”, is backed by Nas, Gene Simmons and Lil Baby
By IQ on 11 Feb 2022
Artist-backed metaverse firm Everyrealm has closed a US$60 million funding round.
The company (rebranded from Republic Realm) describes itself as “one of the most active investors in and developers of the metaverse ecosystem”.
The Series A funding round was led by Andreessen Horowitz, and individual investors in the platform include stars like Nas, Gunna, Baby Keem, Gene Simmons and Lil Baby.
The firm, led by CEO Janine Yorio was co-founded by TJ Kawamura, Julia Schwartz, Jesse Stein, and Kostas Ketikidis. According to the company, this investment marks one of the largest Series A rounds for a company led by a female CEO.
Founded in 2021, Everyrealm says that it has real estate holdings in 25 metaverse platforms, and that it has developed more than 100 metaverse real-estate projects. It also owns over 3,000 NFTs and manages an e-sports gaming guild.
Everyrealm’s metaverse real estate development projects include Fantasy Islands, an “ultra-luxury master-planned community” within the Sandbox platform which sold an associated NFT megayacht for 150 ETH (approximately $650,000).
The firm’s other projects include Metajuku, a shopping district in Decentraland; Realm Academy, an online educational campus in the metaverse, which is located in Somnium Space; and the GFT Shoppe, a multi-metaverse retail concept that sells NFTs “inspired by cult brands like Atari”.
“We are building the gateway to the metaverse”
According to data, sales of real estate in the metaverse topped $500 million last year and could double this year, according to investors and analytics firms.
Janine Yorio, CEO of Everyrealm, says: “Metaverse real estate development is all about placemaking.
“Everyrealm creates innovative and addictive social spaces that are futuristic and interactive like video games but still familiar to a mainstream audience, by invoking real-world architecture, culture and events.”
Yorio added: “Everyrealm is developing this interactive content across many genres, including sports, education, fashion, gaming, art and social experiences–all designed to draw users to the metaverse.
“We are also creating the infrastructure required to distribute that interactive content to a global, mainstream audience.
“We are building the gateway to the metaverse, to do for the metaverse what Coinbase did for crypto, what Netflix did for streaming entertainment, and what Google did for the internet.”
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