REALM, a UK-based, mobile-first, play-to-earn social impact startup driving the Metaverse forward, has received a $10 million investment from LDA Capital. The investment comes after the $2.25 million Seed round REALM received in 2021. This round was ed by Alphabit with strategic investments from NGC, Genesis Block Ventures, LD Capital, Moonrock, and SL2 amongst other funds.
Its NFT microverse platform — a place where content creators can make customizable metaverses leveraging various technologies such as VR and AR — is “driven by making the world a better place by simply having fun.” In an industry [Metaverse] that some project to grow at a CAGR of close to 50% from now till 2029, reaching $1.5 trillion by 2029 from around $100 billion this year, the investment is timely.
The money will, according to the startup, accelerate REALM’s roadmap, deliver product updates at a much faster rate and establish itself as a leader in the Metaverse space. This will be done by expanding its creator tools, making the platform hardware agnostic and increasing the number of virtual experiences (realms) available.
On the investment, Matthew Larby, Founder and CEO at REALM, said:
“Our hybrid fiat and 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.”
While Warren Baker, Managing Partner at LDA Capital, remarked: “REALM is not only accelerating the entertainment industry, but also a new economy as a whole.”