Quick take:
- Culture-led Metaverse the Kingdom has completed a $3.6 million Private round.
- The startup is creating an open-world metaverse to offer culture-themed experiences.
- The Kingdom’s metaverse will offer non-fungible tokens to its brand partners and global communities.
The Kingdom has finalised a $3.6 million private round to accelerate the creation of its open-world metaverse. The 3D virtual world will focus on culture-led experiences including offering non-fungible tokens (NFTs) to brand partners and its global communities.
Among the series of metaverse experiences targeted include playing, entertainment, and establishing an immersive cutting-edge digital playground. Users will also be able to wear different avatars to participate in socialising events.
The Kingdom said its private funding round attracted the participation of several prominent investors in the Web3 space.
The metaverse world will also offer unique transportation features across its futuristic cities, brand-built shops, user housing, and public structures as part of its extended portfolio of digital activities.
Its community members will also be able to stake land parcels, allowing them to build new structures and zones. Gamers will have the opportunity to engage in play-to-earn gaming experiences, complete quests and add user-generated content.
They will be able to use the rewards earned from their gaming activity to buy houses, upgrade their characters and purchase NFTs. Brand partners will also be able to generate their own NFTs which they can sell to the open-world metaverse for various purposes.
The company is already holding talks with leading brands, cultural representatives, and NFT projects to pursue collaborative opportunities.
Commenting on the successful completion of the private funding, The Kingdom CSO Josh Kovac said the Kingdom will be the first-of-its-kind metaverse world to “harness the power of the cultural zeitgeist.”
“Our vision is to create a social hub for all, we see users from all over contributing to the fabric of this world. Inspired by the never-ending hustle of Asian metropolises, Miraijuku is the first city to be unveiled and unlocked in The Kingdom,” he said, highlighting the incredible experiential activities that users will be able to explore in the company’s immersive 3D world.
“We want our users to have the freedom to decide how they want to experience The Kingdom and its endless opportunities.”
The Kingdom’s latest funding round was backed by the likes of Infinity Ventures Crypto, Alameda Research, Shima Capital, Newman Capital, Sweeper DAO, 3 Commas, Chiron Partners, SMG, and Liquid Lab Ventures.
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