Everdome, the hyper-realistic metaverse, 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, will increase its investment commitment from $10-$60m. Last August, GEM committed $10m to Everdome, majority of which has been drawn down and utilized GEM’s fund towards the development of the metaverse project.
How will GEM’s increased investment be utilized?
GEM’s increased investment commitment follows Everdome’s recent change of management in appointing Jeremy Lopez as CEO, and shows their support in the new management’s previous track record and commitment to the vision of the project moving forward.
GEM’s increased investment will be focused on actions which 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.
Investment will be completely focused on the fundamentals necessary to take Everdome to the next level of success, including product development, scalability and growth. 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. Everdome will control the timing and the number of drawdowns under this facility, and has no minimum drawdown obligation. At its discretion, Everdome has the ability to sell up to 200% of their average daily volume, in tokens across multiple exchanges to GEM Digital.
What does the funding mean for Everdome?
Everdome CEO, Jeremy Lopez said: “The expansion of the investment commitment from GEM is a huge show of faith in Everdome’s concept, our growth to date, and the capacity of the management team to quickly scale the firm across multiple fronts, in marketing, infrastructure, product releases and partnership acquisitions, taking Everdome from concept to a business with real ROI and a vibrantly active metaverse community on a global scale.”
“GEM has been much more than a financial partner; they have been supportive throughout our partnership discussions and have helped open doors with new partners and exchanges.’’
As Everdome has strategically leveraged and drawn down the majority of their initial investment commitment to accelerate their product offering and expand upon initial timelines and scope, now is the time to add resources behind the delivery stage of their business.
This investment comes at a good moment for Everdome, following on from server scaling tests of their first in-world experience with our Moon Skimmer release, and upcoming full environment access for a community numbering in the tens of thousands and Mars landing experience. This investment partnership with GEM primes Everdome for a dynamic new era of growth and development, injecting pace and power across the multiple areas planned.
To learn more about Everdome, visit the website.
