A $25 million fund has been raised to invest in blockchain-powered spatial games. This is the most recent investment by Spatial Technologies, a Canadian high-tech firm that specializes in 3D virtual reality development and online gaming. The company plans to use this money for an ICO launch later this year.

$25 Million Fund Raised As Spatial Switches Focus To Metaverse Events

Spatial Systems Inc., a business best known for developing a virtual reality collaboration platform, has announced a significant change in its future endeavors. The firm will now concentrate on making its platform the metaverse for cultural events such as NFT exhibits, conferences, and sponsored experiences, thanks to a $25 million funding round. Pine Venture Partners, Maven Growth Partners, Korea Investment Partners, KB Investment, Mirae, and Balaji Srinvasan are some of the investors.

Spatial has began permitting the usage of blockchain technology on its platform as part of its change in emphasis. The platform can now enable virtual NFT galleries, allowing digital artists to create their own galleries that visitors may visit and virtually immerse themselves in. Users can quickly edit and create their galleries because to the boundless nature of Spatial’s VR technology, and the addition of blockchain technology enables visitors to buy NFTs straight from the app.

Spatial’s decision to change emphasis was not done on purpose; rather, it was taken when it became clear that its users were utilizing the platform as a springboard for cultural events once it was made free and compatible on web and mobile. “The cultural-events metaverse isn’t something we thought about,” said Jacob Loewenstein, Head of Business at Spatial. It’s something our users came up with and suggested to us.”

Users who want to own their own piece of the metaverse as NFTs may now purchase limited-edition, purpose-built NFT settings from Spatial. Designers Polycount and Reno collaborated with development lab Meshed to create the surroundings. Visit see them, go to Spatial’s website.

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