UAE-based metaverse startup Everdome raises $10 million in funding

Oluwajuwonlo Afolabi -

Everdome, a metaverse startup based in UAE has raised $10 million in funding from GEM Digital Limited, a digital asset investment firm based in Bahamian.

  • The fund will be used to bolster the startup's offering and ensure sustainability in the business including boosting marketing efforts, securing strategic partnerships and making investments for growth.
  • Everdome is a metaverse startup that uses cutting-edge 3D scanning technology and games (Epic Games' Unreal Engine 5) to deliver state-of-the-art and photo-realistic graphics in virtual reality.
  • The funding will be deployed in a structured token agreement (that is, the investor will finance the startup's projects for discounted crypto tokens at a future date).
  • GEM's investment is targeted at enabling team growth and technological expansion.