Rekt Studios raises $1.5 million from Cypher Capital to develop Meta gaming ecosystem

Rekt Studios raises $1.5 million from Cypher Capital to develop Meta gaming ecosystem

Rekt Studios, UAE-based blockchain-focused startup, has secured $1.5 million in funding from Cypher Capital.

The funding will go towards the development of its gaming metaverse ecosystem, Unseen.

According to the startup, Unseen is a fully immersive, interoperable decentralised virtual ecosystem centred around gaming, built to be accessible directly through the ownership of any Ethwreum Virtual Machine-compatible Non-Fungible Token (NFT) in existence.

Rekt Studios was founded in 2021 by Elie Rizek and provides developers and designers with tools to develop blockchain-based products.

Launched early this year in Dubai, Cypher Capital is a $100 million VC fund focused on backing startups in web3, blockchain, crypto and other digital assets.

Press release 

Rekt Studios, a Dubai-based startup has announced it’s secured $1.5 million in funding from Cypher Capital, a Dubai-based leading blockchain and web3 venture capital firm, to bolster the development of the ‘Unseen’ ecosystem. 

The investment will augment development and enable Rekt Studios to launch a product capable of establishing itself as the leading gaming metaverse. The collaboration will also provide access to the substantial global network of Cypher Capital and facilitate the execution of Rekt Studio’s first gaming metaverse, Unseen. Bill Qian, Chairman of Cypher Capital, and Rekt Studio's board advisor will support the studio's ambitious plans for