UK-based NFT microverse platform REALM has received a $10 Million investment from LDA Capital in its latest funding.
Realm is a NFT microverse platform where creators can make customizable metaverses utilizing different technologies such as AR.
The news becomes more notable because it has come amid the current bear market. Last year, Realm raised $2.25 million seed funding led by Alphabit with strategic investments from NGC, Genesis Block Ventures, LD Capital, Moonrock, and SL2 amongst other funds.
The company said in a blog post that it will now accelerate its roadmap, deliver product updates at a much faster rate and establish itself as a leader in the metaverse space.
REALM mentioned in a press statement shared with AlexaBlockchain that it aims to expand its creator tools, make the platform hardware agnostic, and increase the number of virtual experiences (realms).
Warren Baker, Managing Partner, LDA Capital praised REALM for the advancements brought by them to the virtual worlds and games.
Warren said that REALM will bring the blockchain to mainstream consumers and allow them to engage and interact inside the Metaverse.
“REALM is not only accelerating the entertainment industry, but also a new economy as a whole,” Warren added.
The global metaverse market is projected to grow at a CAGR of 48% during 2022-2029, reaching $1.5 trillion by 2029 from around $100 billion this year.
While the industry promises high growth, REALM is a key player, changing the way NFT’s are showcased and personalized, bringing a new way of customizing and monetizing the space, representing a revolution in the user experience.
Matthew Larby, Founder & CEO at REALM, said:
“Our hybrid fiat & crypto metaverse unlocks the power of the blockchain, without the need for wallets, bridges or any environmental impact from ledger technologies. 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.”
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