The virtual supplants the real – Galaxy Interactive, the venture capital arm of Galaxy Digital led by billionaire Mike Novogratz, has joined Republic Realm’s metaverse (or “metaverse”) funding cycle as a lead investor. Discover with us the almost infinite potential of meta-universes!
Originally, the metaverse was a virtual world, artificially created by a computer program. It now hosts a community of users present form avatars being able to move there, interact socially and sometimes economically. Thanks to the’integration of NFTs in video games, this sector is now opening up to limitless possibilities.
Republic Realm, leader in the field, manages a diversified portfolio of NFT immobiliers in many metavers. The team develops plots of land, to increase value and foster community development, including advertisements in the virtual world as in reality.
The company is developing neighborhoods and points of attraction around the metaverse. It includes the principles of real-world development with architects and renowned illustrators that create unique spaces and promote the birth of communities by enriching the ecosystems of the metaverse.
For several decades, video games have not stopped working on their universe and surpassing themselves to offer increasingly sophisticated graphics and possibilities. From now on, Fortnite, Minecraft or Animal Crossing have gone beyond the aspect of a simple video game, in order to integrate graduation, meetups or live concerts inside the video game itself, like that of rapper Travis Scott, which brought together 12 million players on Fortnite.
The retreat towards the virtual induced by the current pandemic all around the globe has also had a significant effect on these mini-metaversees, with a sharp increase in the number of simultaneous online players and the number of events offered by the different communities.
The metaverse, gigantic stakes?
The team around the billionaire is working today to build thefuture of the metaverse :
Galaxy Interactive, the venture capital division of Galaxy Digital, took on the role ofmain investor in the Republic Realm metaverse project. Indeed, Janine Yorio, CEO of Republic Realm, said Mike Novogratz’s support was a “Vote of confidence” for an investment of $ 10 million. In total, the company would have already raised $ 36 million in its gigantic projects.
Founded in 2021, US-based Republic Realm has achieved more than 1,500 investments and bought, this month, a virtual land based on Decentraland blockchain for 900 000 dollars. The team then developed this land by adding buildings to it. In particular, she built a virtual shopping center and rented out virtual shops, to name but a few examples.
In virtual worlds, such as Decentraland, users can view their NFT art collections, open businesses, walk with friends, visit monuments, and attend events. The price of blockchain-based real estate in virtual worlds has thus jumped with the NFT market boom this year.
The Metaverse has been a long-standing fantasy for a lot of geeks, sci-fi fans, and gamers. But with technological advancements and the integration of blockchain, the possibilities now seem endless, and the future is closer than ever. With giants, like Roblox, Epic Games (the creator of Fortnite) or Facebook who invest fortunes, Republic Realm is no longer the only company to bet big on the metaverse.
The topic was discussed on Twitch at the very end of this Thursday’s Live by Benoit and Sam, along with the UOS team. You will be able to find the replay of LIVE on our Youtube channel from Saturday.
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