Realm, a new NFT microverse platform, has raised $2.25 million in a seed funding round led by Alphabit with strategic investments from NGC, Genesis Block Ventures, LD Capital, Moonrock, and SL2 amongst other funds.
How does Realm challenge current NFT platforms?
Realm aims to challenge the current NFT platforms by offering creators and players a personalised metaverse aptly dubbed a “microverse”. Each microverse, known as a realm, will come with an original genetically coded blockchain avatar. The NFT platform integrates OpenSea’s vast NFT marketplace, and has partnered with Reef Chain to harness the power of Substrate and the Polkadot framework to ensure cross-chain compatibility.
“We’ve been working on how the metaverse will blur the lines between digital and virtual realities for six months. We’re excited to have some world class investors on board who align with our vision of making everybody the master of their own realm,” said Matthew Larby, Realm CEO and Founder.
“Alphabit has made a seed stage investment in this innovative NFT project, which marries AR and VR to really bring to life the digital collectible world. It really captures the imagination of what the future could look like, forging a path in the new metaverse,” said Liam Robertson, CEO of Alphabit.
Realm’s Future plans
Realm plans to use the investment to grow the team, accelerate development of the simple creator tools that democratise creation, and build a wide range of smart objects for artists to use to express themselves in virtual spaces.
Users of Realm will be able to utilize the platform in a series of different mediums including utilizing the AR functionality on a phone to enter their microverse through “magic window” AR technology that has been built by the Realm team.
“Realm” is scheduled to debut during Q3 of 2021.
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