Metaverse platform Everdome has announced that GEM Digital Limited (GEM) has committed to invest US$10 million in the company. The two companies reached an agreement on a funding mechanism that would be implemented through the use of a structured token subscription agreement. With this option, Everdome will decide when and how much money it wants to withdraw, with no minimum drawdown required.
Everdome’s web3 ambitions and what GEM’s entry brings
Everdome will be released in three phases over the course of 2022. It incorporates the use of Epic Games’ Unreal Engine 5 and cutting-edge 3D scanning technology. This metaverse takes visitors on an immersive journey from Hatta in the United Arab Emirates. In Hatta, players engage in rocket launches visible to the public, and take off to Mars in Everdome City. The game’s photo-realistic graphics push the limits of what’s possible in a video game.
As a result of GEM’s funding, the game’s virtual reality (VR) capabilities will be launching faster. On the other hand, GEM Digital can purchase up to 200% of the average daily volume of Tokens from Everdome on several exchanges. The cash will also go towards increasing marketing, facilitating collaboration enablement, and making investments that will help Everdome’s long-term growth.
Everdome runs on the Unreal Engine 5, which means it will offer a truly immersive experience. A team of experts with with more than a decade of experience in the industry are in charge of graphics and effects. Furthermore, concept artists, game developers, 3D designers, Hollywood VFX specialists, and urban planners are all part of the team’s roster.
Global Digital Asset Management (GEM Digital) is a digital assets investment company with $3.8 billion in assets under management. In the past year, it has executed over 530 deals in 72 countries, with a concentration on emerging markets. Risk-adjusted return, liquidity, and operational control vary widely among its key investment vehicles.