Everdome, a highly immersive and hyper-realistic metaverse, has announced that GEM Digital Limited (“GEM”), a Bahamas-based digital asset investment firm that sources, structures, and invests in utility tokens listed on over 30 CEXs and DEXs globally, has agreed to increase its investment commitment from $10 million to $60 million.
In August 2022, GEM committed $10 million to Everdome, of which the majority has already been drawn down by Everdome and utilized GEM’s investment proceeds towards the development of the metaverse project.
GEM’s increased investment commitment follows Everdome’s recent change of management in appointing Jeremy Lopez as CEO and demonstrates their strongest support and commitment to the new management’s previous track record and commitment to the vision of the project moving forward.
GEM’s investment will be focused on actions that move Everdome from a conceptual, visionary project into its new phase of delivery and expansion, as they build on the solid foundations created through 2022 to expand the company in key areas.
The investment will be completely focused on the fundamentals necessary to take Everdome to the next level of success, including product development, scalability, and growth.
Read more: Everdome’s metaverse to launch a Martian colonization competition
These fundamentals include core product delivery, to ensure Everdome opens to the public as soon as possible, infrastructure boosting to allow heavy traffic loads in a high-fidelity environment, tools for users to create and build inside Everdome as well as growth in users and partners.
GEM‘s investment comes in the form of a further structured token subscription agreement. Everyone will control the timing and the number of drawdowns under this facility and has no minimum drawdown obligation. At its discretion, Everdome can sell up to 200% of its average daily volume, in tokens across multiple exchanges to GEM Digital.
Everdome CEO, Jeremy Lopez, expressed his appreciation for GEM Digital’s increased investment commitment, highlighting their support and the potential it brings for the growth of the platform. He also acknowledged GEM Digital’s role in helping to forge valuable partnerships and expand Everdome’s reach.
This investment comes at a good moment for Everdome, following on from successful server scaling tests of their first in-world experience with our Moon Skimmer release, as well as upcoming full environment access for a community numbering in the tens of thousands and Mars landing experience.
For more on Everdome, click here.
