Aftermath Islands raises $25 million for its Metaverse project
Aftermath Islands, a blockchain-based virtual reality (VR) platform has raised $25 million from US-based, self-billed alternative investment group, LDA Capital through the sale of in-game utility tokens. Aftermath Islands in-game currency Doubloons, or Dubs, will be used to pay for goods and services in the Aftermath Islands Metaverse and will be supported by a blockchain tokenized ecosystem. LDA Capital will purchase Aftermath Islands utility tokens over three years based on the achievement of certain milestones.
Aftermath Islands allows visitors to work, play, learn, and game in virtual island environments. Aftermath Islands is based on Unreal Engine 5 graphics to produce a high-resolution, photo-realistic Metaverse. The eponymous islands currently come in three flavours: are Theme Islands, Estate Islands, and Community Islands.
Theme Islands allow visitors to immerse themselves in “events, quests and gameplay designed around individual theme like dragonlore, medieval fighting, alien warfare, dinosaurs, pirates, monsters and more.” Theme Islands currently include Dragon Alley, Smash Island, Survival Island and Wrecked Sands.
There are also Estate Islands, where visitors can “own a large part of a small island where only a few dozen players share ownership. Estate Islands currently include Hellebore Isle, Ivywood Isle, Jasmine Isle, and Fernwood Isle, with each island containing 980 parcels of land.
Finally there are Community Islands, where visitors can “hang out, play with others, but stall have a place to call [their] own”, and “be part of group activities, guilds [and] clubs”. Community Islands currently include Comet Cay, Uranus Enclave, Saturn Hideaway, Helios Haven, Wayne Getaway, Logan Refuge, Dot Cay, and Mercury Rising with each island containing 18 parcels of land. Note that, at the time of writing, both Dot Cay, and Mercury Rising parcels are sold out.
Speciality Islands include Vegas Island, Cannabis Cove, (launched by vertically integrated cannabidiol (“CBD”) and Hemp company Primo Gardens Inc., FAB Island, where you can “take a trip through Strawberry Fields, walk across Abbey Road, make your way down Penny Lane, and enjoy a cuppa at Mrs. McCartney’s Tea Shoppe.” This sounds like the start of a Beatles-inspired Metaverse as imagined in our June post, Welcome to … the Beatleverse. There’s also Mom Island, a “lifestyle and education community for Moms, by Moms, and about Moms.”
Rather than raising money through a conventional venture capital deal, Aftermath Islands has chosen to sell utility tokens to LDA Capital over a period of time. Managing Partner and Co-Founder of Warren Baker, stated that LDA Capital “is proud to participate in the advancements brought by Aftermath Islands to the virtual worlds and games which will transform how players interact and transact with in-game collectible NFTs” and that “ultimately, Aftermath Islands is transforming science-fiction into history, and we are proud to be co-authors of this story.”
The company intends to use LDA Capital’s investment to accelerate the Aftermath Islands roadmap, which seeks to scale the Aftermath Islands ecosystem, grow its non-fungible tokens (NFTs), and work on its digital identity, multi-chain initiatives, play-to-earn games, virtualization and blended reality, and other decentralized initiatives.
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