REALM, a mobile-based play-to-own metaverse platform, has received a $10 million commitment from global investment group LDA Capital to bolster innovation on its platform, advance metaverse capabilities, and improve the overall user experience on its platform. Announced this week, the funding will also help REALM to expand its creator tools, make the platform hardware agnostic, increase the number of virtual experiences (realms), and position itself as a leading brand in the space.
“We are excited to be partnering with LDA as they really understand REALM´s vision of reducing the barriers to enter the metaverse for brands and players”
Matthew Larby, Founder and CEO of REALM said during the recently concluded NFT.NYC event in late June.
With the global metaverse market expected to grow to $1.5 trillion by 2029, the latest commitment funding will help REALM build its base as a market leader in metaverse creations. The platform aims to play a key role in changing the way NFTs are showcased and personalized, bringing a new way of customizing and monetizing the space, giving users an enhanced experience.
Simply, REALM provides a mobile-first play-to-own metaverse where any player can create their own microverse and socialize with other players while making a real positive change in the world. The platform leverages blockchain technology to allow individuals to build their own digital “realms” with no proficiency in coding needed. A third of the profits made on REALM are distributed as rewards to players, token holders, and creators, while another third of the profits is donated to impact causes, via partners like Eden Reforestation and Plastic Bank.
“Our hybrid fiat & crypto metaverse unlocks the power of the blockchain, without the need for wallets, bridges or any environmental impact from ledger technologies,” Larby added. “With LDA’s commitment, we will be able to create an infinitely scalable metaverse that equally supports our community, brands and creators, while positively impacting the wider society.”
LDA Capital is a global alternative investment group that focuses on cross-border transactions globally. The company has invested in multiple startups and companies enhancing transactions around the world. As per a team statement, the company has collectively executed over 250 transactions in both the public and private middle markets across 43 countries with aggregate transaction values of over US$11 billion.
The latest funding commitment in REALM aims at advancing the development of virtual worlds and games, bringing LDA Capital closer to achieving its financial inclusion goals. Speaking on the latest funding commitment to REALM, Warren Baker, Managing Partner, LDA Capital, said:
“REALM will bring the blockchain to mainstream consumers and allow them to really engage and interact inside the Metaverse, whether it is purchasing real estate in the form of NFTs, participating in events, or building their own microverse with simple tools. REALM is not only accelerating the entertainment industry, but also a new economy as a whole.”
David is a crypto enthusiast and an expert in personal finance. He has created numerous publications for different platforms. He loves to explore new things, and that’s how he discovered blockchain in the first place.