Realm, a new NFT microverse platform, has raised $2.25 million in its first round of funding, spearheaded by Alphabit and included strategic investments from NGC, Genesis Block Ventures, LD Capital, Moonrock, and SL2.
Realm aspires to compete with existing NFT platforms by providing artists and gamers with their own personalized metaverse, termed a “microverse.” Each realm, or microverse, will include an original genetically programmed blockchain avatar.
OpenSea’s massive NFT marketplace is integrated into the NFT platform, which has teamed with Reef Chain to harness the power of Substrate and the Polkadot framework to enable cross-chain interoperability.
“For the past six months, we’ve been working on how the metaverse would blur the barriers between digital and virtual realities. Realm CEO and Founder Matthew Larby stated, “We’re pleased to have some world-class investors on board who share our goal of making everyone the lord of their own realm.”
“Alphabit has invested in this revolutionary NFT initiative, which combines AR and VR to truly bring the digital collectable world to life. It truly catches the vision of what the future may look like, blazing a way in the new metaverse,” said Alphabit CEO Liam Robertson.
Realm intends to utilize the funds to expand its staff, expedite the development of easy creative tools that democratize creativity, and create a wide range of smart items for artists to utilize in virtual settings.
Realm users will be able to access the platform through a variety of means, including using augmented reality (AR) on a phone to visit their microverse using the Realm team’s “magic window” AR technology.
Residents of the Microverse are invited to sign up for early access to claim their “realm,” which is set to launch in Q3 of 2021.