ABO Digital Pledges $25 Million Investment in Spheroid Universe's Extended Reality Metaverse
Spheroid Universe's AR/XR Platform Secures Funding to Expand Infrastructure and Create Essential Tools for Creators in the AR/XR Space
ABO Digital, a digital asset investment firm, has committed $25 million to Spheroid Universe, an extended reality metaverse company, to further develop and scale its infrastructure. The investment is a significant milestone for Spheroid Universe, which leverages the Spheroid XR Cloud and Spheroid Script programming language to create AR/XR applications.
Spheroid Universe uses the SPH utility token to power all the activities in its ecosystem. The company will use the funding from ABO Digital to build tools and capabilities within Spheroid Universe, such as the Spheroid Script and Spheroid Demiurge IDE, a cloud-based integrated development environment for programmers and designers working together on AR/XR projects.
“This commitment from ABO Digital will enable Spheroid to continue developing and scaling the infrastructure within Spheroid Universe,” said Andrea De Marco, Spheroid Universe Managing Director.
According to Amine Nedjai, Director of ABO Digital, Spheroid is building essential tools for creators in the AR/XR space, which they believe will see increased demand over time.
SPH is the native token of the Spheroid ecosystem and fuels the platform's activities. It can be exchanged for Spaces, virtual lands in the Spheroid Universe, used for advertising in XR, placing content, and for various platform services. Among the products powered by SPH is Spheroid Earth, an open global project for creating Earth's 3D digital twin.
ABO Digital, part of the Alpha Blue Ocean group, has executed over $2 billion in financing commitments for publicly listed companies globally. In addition, the investment firm based in the Bahamas invests in cryptocurrency projects worldwide.
The investment in Spheroid Universe marks a significant milestone for the company, poised to continue expanding and developing its platform, providing essential tools for creators in the AR/XR space. With ABO Digital's backing, Spheroid Universe is well-positioned to drive innovation and grow its user base as it moves forward.
Subscribe to the Metaverse newsletter
Leave your email below and get more info like this:
Disclaimer: Nothing on this site should be construed as a financial investment recommendation. It’s important to understand that investing is a high-risk activity. Investments expose money to potential loss.