The funds will be used for onboarding users and scaling Aftermath Islands’ numerous Metaverse initiatives
Aftermath Islands Metaverse Limited, the development company behind the highly ambitious Aftermath Islands Metaverse project, has secured a $25 million commitment from LDA Capital Limited, a global alternative investment group.
The company said that the funds will be used for a wide range of project-related campaigns and programs, from user onboarding and the development of play-to-earn opportunities to the adoption of the Aftermath Islands Metaverse and the support of Aftermath Islands’ unique NFTs, digital identity solutions, cross-chain compatibility initiatives, play to earn programs, and other cutting-edge decentralized applications at the intersection of user identification, gaming, entertainment, finance, virtualization, collaboration, and blended reality in the Metaverse and the real world, the company said in a statement.
“LDA Capitals’s commitment will support the long-term growth of the Aftermath Islands Metaverse. Aftermath Islands’ Metaverse demonstrates how digital identity can support safety, privacy, and security in both online and offline settings, and our high-resolution graphics and pixel streaming provide users with a fast, no-download, photo-realistic gaming experience on any device, raising the bar and expanding opportunities for what is possible both in the Metaverse and in the real world,” said David Lucatch, Managing Director of Aftermath Islands in a press release.
“Aftermath Islands’ virtual worlds and games have the power to transform how players interact and transact with in-game collectible NFTs, and LDA Capital is proud and excited to partner with the project team in this movement. Aftermath Islands is a recognized leader in digital identity verification in the online space, which empowers users and developers to build and benefit from a whole new world of in-game and real-world interactions. Ultimately, Aftermath Islands is transforming science-fiction into history, and we are proud to be co-authors of this story,” said Warren Baker, Managing Partner, LDA Capital.
LDA Capital is an investment group focused on investing in the global private and public markets. The firm provides capital solutions to companies seeking financing in underserved markets and complex conditions on a global basis. The team has executed over $10 billion in transactions across over 40 countries over the last decade and is one of Aftermath Islands’ high-profile partners and collaborators.
Metaverse opportunities were valued at approximately $27 billion in 2020, Aftermath Islands Metaverse Limited reported. With a projected CAGR of about 40% over the next decade, the Metaverse is expected to eclipse $820 billion in market value by 2030.
LDA Capital’s $25 Million commitment will provide access to non-equity funds via the purchase of Aftermath Islands Utility Tokens, contingent on the successful completion of predetermined project milestones. The Aftermath Islands project team aims to achieve those milestones toward the end of 2022. With the commitment, LDA Capital has an option to purchase an equity stake in Aftermath Islands Metaverse Limited.
Earlier this week Aftermath Islands released a demo video that offers a sneak peak at the project. Aftermath Islands positions itself as a “shared virtual open world, much like the Metaverse described by author Ernest Cline in his science-fiction novels Ready Player One and Ready Player Two.” It will allow users to interact with each other, create content and play games, among other things. The Metaverse will feature an in-game virtual economy with “a myriad of in-world economic transactions” and the ability to monetize content, quests, and applications.