Republic’s venture into the Metaverse – Realm has rebranded as Everyrealm raising $60 million in Series A funding in the process. A securities filing from last week indicated that more than 30 investors participated in the funding round.
Republic is a leading online capital formation platform that helps entrepreneurs raise the capital they need to grow. Republic has various verticals targeting different sectors while enabling issues to raise capital under Reg CF, Reg D, and Reg A+. Republic is reported to become a minority shareholder in the business.
The metaverse has become a bit of a digital land grab as participants realize first starter advantages can be significant. Realm/Everyrealm is now a leading player in the metaverse with a war chest that will help the platform iterate and grow.
Republic Realm previously listed a securities offering in 2021 on Republic that indicated it had raised a whopping $75 million. As some investors inquired as to how the Series A impacted their investment a representative explained:
“This offering is for Realm Metaverse Real Estate Inc. which is a company that Everyrealm (formerly known as Republic Realm) manages. A similar example is when you invest in a Fidelity ETF- you are investing in an ETF that is managed by Fidelity and are investing in the ETF, not Fidelity, the company.”
Investors in the Series A round include big names like Andreessen Horowitz, Coinbase, Lightspeed, and yes, Paris Hilton.
Proud to announce that we closed on a $60 million Series A financing round led by @a16z. Other investors include @coinbase, @NGC_Ventures, @dragonfly_cap, @hashed_official, @lightspeedvp, Griffin Gaming Partners, @LCVentures, @dapperlabs, @neon_dao, @ParisHilton, @1GunnaGunna… pic.twitter.com/3vUV03IV1b
— Everyrealm (@Everyrealm) February 11, 2022
According to a report, Everyrealm has now invested in 25 different metaverse platforms and currently owns more than 3,000+ NFTs [non-fungible tokens].
Speaking with Techcrunch, Everyrealm CEO Janine Yorio said they started out investing in the metaverse but now view themselves as developers of metaverse content adding that its virtual retail store Decentraland sold out of 10,000 items in about one hour.