Funds will be used to onboard users and scale Aftermath Islands’ many Metaverse initiatives.
Aftermath Islands Metaverse Limited, the development company behind the highly ambitious Aftermath Islands Metaverse project, has secured a $25 million commitment from LDA Capital Limited, a global alternative investment group.
The company said the funds will be used for a wide range of project-related campaigns and programs, from user onboarding and developing play-to-win opportunities to adoption of the Aftermath Islands Metaverse and support of Aftermath Islands’ unique. NFT, digital identity solutions, cross-chain compatibility initiatives, game-to-win programs, and other cutting-edge decentralized applications at the intersection of user identification, gaming, entertainment, finance, virtualization, collaboration, and reality combined in the metaverse and the real world. world, the company said in a statement.
“LDA Capitals’ commitment will support the long-term growth of the Aftermath Islands Metaverse. Aftermath Islands Metaverse demonstrates how digital identity can support safety, privacy, and security in both online and offline environments, and our high-resolution graphics and pixel streaming give users a photorealistic, fast-paced gaming experience. and no downloads on any device. , raising the bar and expanding the opportunities for what is possible both in the Metaverse and in the real world,” said David Lucatch, CEO of Aftermath Islands in a press release.
“The Aftermath Islands virtual worlds and games have the power to transform the way players interact and transact with collectible NFTs in-game, and LDA Capital is proud and excited to partner with the project team on this move. Aftermath Islands is a recognized leader in digital identity verification in the online space, enabling users and developers to create and benefit from a whole new world of in-game and real-world interactions. Ultimately, Aftermath Islands is turning science fiction into history and we are proud to co-author this story,” said Warren Baker, Managing Partner of LDA Capital.
LDA Capital is an investment group focused on investing in the global public and private markets. The firm provides capital solutions to companies seeking financing in underserved markets and complex conditions globally. The team has executed more than $10 billion in transactions in more than 40 countries over the last decade and is one of Aftermath Islands’ high-profile partners and collaborators.
Metaverse opportunities were valued at approximately $27 billion in 2020, reported Aftermath Islands Metaverse Limited. With a projected CAGR of around 40% over the next decade, the Metaverse is expected to exceed $820 billion in market value by 2030.
LDA Capital’s $25 million commitment will provide access to non-equity funds through the purchase of Aftermath Islands utility tokens, contingent on the successful completion of predetermined project milestones. The Aftermath Islands project team aims to achieve those milestones by the end of 2022. With the commitment, LDA Capital has the option to purchase an equity stake in Aftermath Islands Metaverse Limited.
Earlier this week, Aftermath Islands released a demo video giving a sneak peek at the project. Aftermath Islands is positioned as a “shared virtual open world, much like the Metaverse described by author Ernest Cline in his science fiction novels Ready Player One and Ready Player Two.” It will allow users to interact with each other, create content and play games, among other things. The Metaverse will feature an in-game virtual economy with “a myriad of economic transactions in the world” and the ability to monetize content, quests, and apps.
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