REALM secures $10m for infinitely scalable metaverse
- Funds used to advance metaverse accessibility and accelerate the product roadmap
- The goal is for REALM to position itself as a leading brand in the space
- Global metaverse market to reach $1.5 trillion by 2029
Play2own metaverse platform REALM received an investment of $10 million from LDA Capital, the global investment group, to advance metaverse accessibility and accelerate the product roadmap. It will also use the funds to deliver more unique games and experiences through its infinitely scalable metaverse, Invezz learned from a press release.
A leading brand in the space
The goal is for REALM to position itself as a leading brand in the space, begin to offer more virtual experiences (realms), enhance its creator tools, and make the platform hardware agnostic. REALM CEO and founder Matthew Larby commented:
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We are delighted about the partnership with LDA as they really understand our vision and mission to lower the barriers to metaverse entry for brands and players. Our hybrid crypto and fiat platform unlocks the power of the blockchain without the need for bridges, wallets, or the impact of ledgers on the environment. We’ll be able to create an infinitely scalable metaverse with LDA’s commitment that equally supports our creators, brands, and community.
Warren Baker, a managing partner at LDA Capital, added:
LDA Capital is enthusiastic about REALM’s improvements to virtual games and worlds. REALM will allow mainstream users to interact and engage inside the metaverse, whether it is taking part in events, buying real estate in the form of NFTs, or building their own microverses with simple tools. REALM is accelerating a whole new economy.
Global metaverse market to reach $1.5t by 2029
Experts predict the global metaverse market will grow rapidly in the near future. Its value of $100 billion in 2022 is expected to reach $1.5 trillion by 2029, equivalent to a growth rate of 47.6% in this period.
REALM is a major player against the backdrop of high industry growth, transforming the way people display and personalize NFTs and bringing a new way of monetizing and customizing the space, representing a revolution in the user experience.