Dubai-Based Metaverse Gaming Startup Raises $1.5 Million to Launch Web3 Metaverse Game
Rekt Studios unveils plans to launch its metaverse game as it closes a $1.5 million funding round led by Cypher Capital.
Metaverse gaming continues to draw interest from venture capitalists and investors. Rekt Studios, a Dubai-based Web3 gaming start-up, today announced that it had completed a $1.5 million funding round. Cypher Capital, a dedicated blockchain and Web3 VC firm, led the financing round, with other investors also participating.
Rekt Studios plans to launch its first virtual gaming world, Unseen, with this new capital injection. Unseen will enable game creators and other producers in the virtual space to build games, metaverse real estate, digital assets like NFTs, and virtual experiences, according to Rekt Studios.
Bill Qian, a board member at Rekt Studios, expressed his delight at the development, claiming that the capital injection will help Rekt Studios further the development of its gaming metaverse and drive expansion and marketing efforts. Based in Dubai, the company aims to build an easily accessible and distinct virtual gaming environment for the Web3 community in the Middle East, which will drive the region’s stock even higher as a blockchain-friendly zone.
Rekt Studios is a relatively young company founded in 2021. The blockchain startup specializes in launching new products tailored for the Web3 market and providing services in consulting and implementation while leveraging blockchain and other emerging technologies. Presently, the company is focused on Web3 gaming, with active plans to launch a Metaverse game soon, with other virtual experiences and environments to follow.
The Metaverse is a three-dimensional world with so much potential. People can enjoy immersive experiences doing what they love, from work to shopping, from experiencing imaginary worlds in games to owning virtual real estate. In the Metaverse, people will interact with the virtual world through their avatars. Unseen will embody all the metaverse concept offers, from immersive environments to decentralization and interoperability.
Unseen will also focus on Web3 gaming, real-world use cases, lifestyle, and entertainment. Rekt Studios has also lined up opportunities for users of the Unseen metaverse to create, buy, sell, and invest in digital assets like NFTs and virtual experiences.
Bijan Alizadeh, co-founder, and partner at Cypher Capital, also shared his thoughts on his company’s involvement in the Rekt Studios project. According to Bijan, Unseen proves that the metaverse gaming industry is maturing and still full of potential. He went further to express the company’s delight at leading the funding round while admitting that he had high hopes for Rekt Studios and the Unseen project.
This comes as no surprise for metaverse and blockchain enthusiasts, however. Dubai and other emirates in the UAE have shown tremendous commitment to furthering the cause of blockchain technology in the region. They have accepted it wholeheartedly and taken bold steps to drive the industry to greater heights within their borders.
Dubai continues to take seasoned steps to integrate blockchain and metaverse technology with its economy. The emirate’s boldest step, which has encouraged the likes of Rekt Studios to launch metaverse products, was the Dubai Metaverse Strategy unveiled in July. According to the document, Dubai aims to drive metaverse adoption and the blockchain industry, creating over 40,000 jobs and injecting more than $4 billion into its economy by 2025.