The Kingdom has announced that its private funding round has attracted $3.6 million in investments from top venture capital firms, including Alameda Research, Infinity Ventures, and Liquid Lab Ventures, amongst others, catapulting the metaverse project to the forefront of Web3 development.
The Kingdom MetaMetaverse Raises $3.6 Million
The Kingdom, an upcoming open-world metaverse focusing on culture-led experience, has successfully raised $3.6 million via its private funding round.
Per a press release shared with crypto.news, the private round has attracted a vast array of prominent investors, including Sweeper DAO, 3 Commas, Chiron Partners, SMG, Infinity Ventures Crypto, Alameda Research, Shima Capital, Newman Capital, Infinity Ventures Crypto and Liquid Lab Ventures.
The Kingdom claims to be the world’s first culture-led metaverse designed to enable users to explore immersive cities, embark on missions, play, dress up their NFTs and create an entirely new virtual world.
The team is aiming to bring to life an open-world metaverse focusing on culture-led experiences through non-fungible token (NFT) collaborations, international brand partnerships, and establishing a worldwide community.
The Kingdom’s metaverse will feature various NFT avatars socializing, playing, entertaining, and establishing an immersive cutting-edge digital playground.
In The Kingdom metaverse, brands can mint NFTs that can be sold or used for various purposes. The team has hinted that it’s in talks with various international brands, cultural representatives, and NFT projects for collaborations. If all goes as planned, the first NFT partnerships will be announced before the end of Q2 2022.
A Metaverse Like No Other
Commenting on the project’s latest milestone, Josh Kovac, The Kingdom CSO said:
“The Kingdom is going to be a first-of-its-kind metaverse that really harnesses the power of cultural zeitgeist. Our vision is to create a social hub for all, we see users from all over contributing to the fabric of this world. Inspired by the never-ending hustle of Asian metropolises, Miraijuku is the first city to be unveiled and unlocked in The Kingdom. Users can collaborate and create with others, earn through P2E games or simply explore the city of the future. We want our users to have the freedom to decide how they want to experience The Kingdom and its endless opportunities.”
The team says players can use the rewards generated via play-to-earn gaming in The Kingdom metaverse for character upgrades, purchasing NFTs, housing, and more.
Interested members can enter The Kingdom metaverse by having their avatars spawned in the Kingdom Capital. Once in the metaverse, users can travel across futuristic cities with different themes, brand-built shops, use housing, public structures, and various digital experiences.
The Kingdom also features land parcels that enable users to build new structures and zones.
Interoperability is a core focus of the project. The Kingdom will be able to host different projects across the industry, making it possible for users to interact with the project with their existing NFT assets.
“Combining elements of NFTS, GameFi, and tokenomics, players will have complete freedom to choose how they experience The Kingdom. Whether it’s content creation, embarking on user-generated quests, or even simply exploring the immersive world, players have complete freedom in how they choose to experience The Kingdom,” the team added.