Canada's Utherverse launches $1.235 mn equity crowdfunding campaign

Utherverse began accepting reservations for investment spots on September 21 with more than $100,000 reserved by potential investors prior to the launch of the crowdfund. The company has been valued at $70 million and has brought in more than $77 million in revenue.

“We are looking to consolidate all metaverse offerings across the entire Web3 space into a single, interoperable platform that can leverage the entire community to provide the best in education, entertainment, business, fashion, virtual real estate and other verticals,” said Brian Shuster, founder and president of Utherverse. “Our goal is to become that single platform upon which the next generation of the internet is built.”

Bonus perks for investors at various levels include getting on the whitelist for early beta access, VIP access to the platform, virtual real estate, UtherTokens and titles, the company said in a press release.

Utherverse boasts several potential revenue streams, including VIP subscriptions, advertising, virtual land rental and sales, metaverse as a service, search engine, domain names, event ticket sales, patent royalties, e-commerce commission and a host of other proven revenue models that will be brought up as the software continues to be built-out and released.

Republic is a global financial technology firm at the frontier of democratising access to the private markets. Republic operates several distinct business lines including a retail investment platform, a private capital division and a blockchain advisory practice. Republic recently acquired Seedrs, which just celebrated its 10th year of operations, and is Europe’s leading online investment platform, enabling investment in startups, VC funds, secondary share sales as well as operating one of the most active secondary markets in the world.

Republic’s global platform has supported over 1,300 companies and has over 2.5 million users across 100 countries. Republic is backed by dozens of leading investment firms and financial institutions and its affiliated entities have co-invested with the best names in venture and private equity. Founded in 2016, Republic is headquartered in New York City with offices worldwide, including London, Dublin, Seoul and Dubai.

Utherverse is a metaverse platform that enables developers to build interconnected virtual worlds, provides hyper-realistic immersive experiences for consumers and opportunities for companies to market and monetise their products and services. Utherverse generates revenue from custom metaverse building services, sales of NFTs and a variety of business verticals including advertising/marketing, shopping/retail, conferences/conventions, education, dating, lifestyle, entertainment events/performances, VIP experiences and virtual offices.

Fibre2Fashion News Desk (RR)