Everdome Secures US$10 million Investment Commitment from GEM Digital Limited
Everdome, the most hyper-realistic metaverse, has announced that GEM Digital Limited (GEM), a Bahamas-based digital asset investment firm that sources, structures and invests in utility tokens listed on over 30 CEXs and DEXs globally, has agreed to an investment commitment of US$10 million into the UAE-based metaverse company through a structured token subscription agreement.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220809005321/en/
Everdome Secures US$10 million Investment Commitment from GEM Digital Limited (Photo: AETOSWire)
The announcement comes during a period of heightened activity for Everdome, particularly in terms of its product roll-out and the company’s auction of metaverse land plots. Since June 2022, a total of 11,700 plots (97%) located throughout the Everdome metaverse were sold throughout an eight week auction experience. In total, plots were purchased for upwards of US$18.6 million, which is equivalent to 1,531,000,000 $DOME, Everdome's own digital currency. The average price of a plot of land in Everdome was 130,000 $DOME.
Everdome will control the timing and the number of drawdowns under this facility, and has no minimum drawdown obligation. At its discretion, Everdome has the ability to sell up to 200% of their average daily volume in Tokens across multiple exchanges to GEM Digital.
According to Rob Gryn, CEO and Founder of Everdome, the commitment from GEM will be used to strengthen Everdome's offering and ensure future sustainability in the business. "We're thrilled to partner with and achieve this investment commitment milestone with GEM, which confirms that we're on the right track as we seek to push new boundaries in the metaverse. This is the perfect time for us to put our foot on the gas and really grow our product, which GEM's investment commitment will help us to do. Everdome is in a very exciting place, and together with GEM we’ve taken the next step in order to build our metaverse ecosystem to the next level."
GEM's investment will be focused on team growth and metaverse technological expansion, and will see the game's virtual reality (VR) capabilities set on a fast track. Funds will also go towards boosting marketing efforts, partnership enablement, and investments that will aid Everdome's sustainable growth.
Set to launch in three phases throughout 2022, Everdome takes users on an immersive journey from Hatta in the UAE, which is widely viewed via rocket launches, to colonize Mars in Everdome City. The metaverse platform leverages cutting-edge 3D scanning technology and Epic Games' Unreal Engine 5 to deliver state-of-the-art, photo-realistic graphics that will leave players wondering about the boundaries between gameplay and reality.
To learn more about Everdome, visit everdome.io.
Everdome is creating the most hyper-realistic metaverse. Bringing brands and users together in a digital-life meets real-world experience, all with the purpose of interconnecting the digital and physical worlds seamlessly – ultimately creating the most realistic web3 experience.
About GEM Digital Limited
GEM Digital Limited is a digital asset investment firm. Based in the Bahamas, the firm actively sources, structures and invests in utility tokens listed on over 30 CEXs and DEXs globally.
Global Emerging Markets (“GEM”) is a $3.4 billion alternative investment group with offices in Paris, New York and the Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 530 transactions in 72 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provides GEM and its partners with exposure to Small-Mid Cap Management Buyouts, Private Investments in Public Equities, and select venture investments.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Head of PR
White Label Strategy
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Mary Kay Awards Education Grant to Young Woman Aspiring to Become First Latin American Woman Astronaut to Visit Mars5.10.2022 23:40:00 CEST | Press release
As a decades-long leader in women’s empowerment and innovative science, Mary Kay celebrates young women who are taking charge of their futures through leadership, innovation, and determination to excel in STEAM fields. Women make up only 28% of the workforce in science, technology, engineering, and math.  By offering continued support to young women in STEAM fields, they are continuing Mary Kay’s mission, which is to improve women's lives everywhere. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221005005835/en/ Mary Kay is committed to inspiring young women making tremendous contributions to STEAM fields to continue to pursue their dream. (Photo: Mary Kay Inc.) “More young women gaining access to STEAM education leads to an increase in women embracing careers in those fields. In turn, this provides access to more equal opportunities for women, narrows the gender pay gap, bolsters economies, and eliminates bias in scient
300 Rimini Street Employees Will Gather in Las Vegas to Handmake 500 Fleece Blankets for Local Foster Children, Shelter Pets, and Homeless Youth5.10.2022 23:09:00 CEST | Press release
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that on October 6, 2022, over 300 Rimini Street employees gathered in Las Vegas will handmake 500 fleece blankets for local foster children. The blankets will then be donated to Clark County (Nev.) Department of Family Services and Foster Kinship, a Las Vegas-based non-profit. The volunteers will also craft 100 smaller blankets to be donated to the Las Vegas SPCA for animals waiting for their forever homes. The remaining fabric will be donated to volunteer quilters who sew garments for local homeless youth. The 500 blankets will be part of the supply package for recently appointed guardians to gift to the child upon arrival, helping them feel welcome during their critical adjustment phase. The fleece fabric used for the blankets is adorned with children’s characters and
Pyramid Analytics Formalizes US Federal Business Practice5.10.2022 21:04:00 CEST | Press release
Pyramid Analytics (Pyramid), a pioneering decision intelligence platform provider, today announced a new business practice dedicated to the specific needs of U.S. federal agencies. Led by a team of experts with a deep background in the federal market segment, Pyramid’s Federal Business Practice builds on the company’s success with federal agencies such as the U.S. Department of Veterans Affairs (VA) and strengthens its focus and commitment to providing the U.S. Federal Government and federal partners with sales, technical expertise, and services to deploy Decision Intelligence for strategic uses at scale. Key Points: Decision Intelligence enabled by AI and Machine Learning (ML) can modernize the delivery of critical public services, including healthcare, homeland security, and defense in the US federal market segment. President Biden’s Fiscal Year (FY) 2023 Budget proposes spending $65 billion on IT for civilian federal agencies and prioritizes IT Modernization, Cybersecurity, and Digi
Brijesh Jeevarathnam to Succeed Kelly Meldrum as Global Head of Fund Investments at Adams Street Partners5.10.2022 15:00:00 CEST | Press release
Adams Street Partners, LLC, a private markets investment firm with more than $50 billion of assets under management, announced today that Brijesh Jeevarathnam will be promoted to Partner & Global Head of Fund Investments. Jeevarathnam, who joined Adams Street as a Partner in Primary Investments in 2016, will also become a member of the firm’s Executive Committee as part of his new role. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221005005265/en/ Brijesh Jeevarathnam has been promoted to Partner & Global Head of Fund Investments of Adams Street Partners. (Photo: Business Wire) Jeevarathnam succeeds Kelly Meldrum, who is retiring after 17 years as a Partner & Head of Primary Investments at the firm. Meldrum will transition her duties at year-end and will make herself available through the end of Q1 2023. “Over her long tenure with Adams Street, Kelly has made innumerable contributions to the firm, not the least of which wa
NetWitness Launches White Hat Wednesdays Conversation Series5.10.2022 15:00:00 CEST | Press release
NetWitness: DATE & LOCATION: To register, visit the White Hat Wednesdays link here. Wednesday, October 19 at 11:30am ET Wednesday, November 16 at 11:30am ET More dates to be announced WHAT: NetWitness will be launching White Hat Wednesdays, a series of discussions exploring the latest cybersecurity threats enterprises face today, with the first session kicking off on October 19. Cybersecurity experts will share their personal experience regarding the evolution of today’s attacks and the steps incident response teams are taking to detect, mitigate, assess, and remedy these situations. The first topic will focus on threats to the financial industry and FIN13, a threat actor that targets this vertical. The discussion will include how these types of groups operate as well as what an attack on financial technology looks like. WHO: The following spokespeople and executives will be leading the discussions: Stefano Maccaglia, Practice Manager, NetWitness Incident Response Will Gragido, Head of
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom