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Republic's Metaverse Real Estate Branch Rebrands As Everyrealm
Summary: Unreal, real estate is the new craze with millions of dollars flowing into the quickly-evolving space. In 2021, data shows that more than $500 million worth of real estate was sold on top metaverse platforms including Decentraland and Sandbox. Surprisingly, traditional real estate companies are amongst the many investors looking to stake their claim on ...
Unreal, real estate is the new craze with millions of dollars flowing into the quickly-evolving space. In 2021, data shows that more than $500 million worth of real estate was sold on top metaverse platforms including Decentraland and Sandbox.
Surprisingly, traditional real estate companies are amongst the many investors looking to stake their claim on virtual plots of land. In fact, a report showed someone spent $450,000 to buy virtual land next to the famous rapper, Snoop Dogg, in Sandbox.
Republic, an alternative asset crowdfunding platform, has been a constant investor in virtual real estate through its Republic Realm division, led by Janine Yorio. The CEO is now rebranding Republic Realm into its own private company called Everyrealm.
Yorio tweeted out on Thursday that they closed on a $60 million Series A financing round.
“Proud to announce that we closed on a $60 million Series A financing round led by @a16z. This marks one of the largest Series A funding rounds for a company led by a female CEO. @Everyrealm,” she tweeted.
Andreessen Horowitz’s Arianna Simpson led the round as a new investor, investing alongside Coinbase Ventures, NGC Ventures and celebrities like Paris Hilton, Lil Baby, Nas and many more.
“The only way the metaverse becomes interesting is if there are things to do and people to see and places to go when you get there,” said Yorio.
That is exactly why they are creating a platform where users will be able to have experiences. For example, Everyrealm also operates a virtual educational campus called Realm Academy where users can learn more about web3 concepts through online courses. Users must pay $1,000 to attend.
Everyrealm is currently invested in 25 different metaverses, owns 3,000+ NFTs, 100+ metaverse real estate developments and 1 gaming guild, according to the company’s website.
“We started out investing [in the metaverse], but we’ve since expanded our mandate to do a lot more than that. We see ourselves as developers of metaverse content, so we don’t just passively invest and sit back and wait for other people to build things,” Yorio said.
Author: Tyler Irvin
