Dubai-based metaverse firm Everdome secures $10mn from GEM Digital

Dubai-based metaverse firm Everdome secures $10mn from GEM Digital

Everdome, the Dubai-based most hyper-realistic metaverse, has secured an investment of $10 million from GEM Digital Limited (GEM), a Bahamian-based, digital asset investment firm, through a structured token subscription agreement.

The move comes during a period of heightened activity for Everdome, particularly in terms of its product rollout and the company’s auction of metaverse land plots. Since June 2022, a total of 11,700 plots, located throughout the Everdome metaverse were sold throughout an eight-week auction experience.

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 percent of its average daily volume, in Tokens across multiple exchanges to GEM Digital.

Robert Gryn

Founder & CEO

Everdome “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