Dubai-based Everdome, the hyper-realistic metaverse project, has announced that GEM Digital Limited, a Bahamas-based digital asset investment firm, will increase its investment commitment from $10 million to $60 million.
The investment will be used to build on Everdome's foundations, focusing on product development, scalability, and growth.
The investment comes in the form of a structured token subscription agreement, and Everdome will control the timing and number of drawdowns. The company can also sell up to 200% of its average daily volume in tokens across multiple exchanges to GEM Digital.
The investment will help move Everdome from a visionary project into its new phase of delivery and expansion, building on the solid foundations created in 2022 to expand the company in key areas.
This investment comes at a good time for Everdome, following successful server scaling tests of their first in-world experience and the upcoming full environment access to a community numbering in the tens of thousands and Mars landing experience.
This strategic investment partnership with GEM Digital primes Everdome for a dynamic new era of growth and development, injecting pace and power across multiple areas planned.