Aftermath Islands Metaverse Limited and its parent company, Aftermath Islands Tokens Limited, have announced that they have secured a $25 million commitment with global investment group LDA Capital Limited.
The latest funds secured, according to the company, will be used to speed up the adoption of the Aftermath Islands Metaverse, scale the ecosystem, and accelerate the development of the company’s product roadmap, as well as support the expansion of NFTs, digital identities, multi-chain initiatives, play to earn schemes, virtualization, and blended reality, and other decentralized projects.
The $25 million commitment will grant access to non-equity dilutive growth funds via the purchase of Aftermath Islands Utility Tokens based on the accomplishment of specific milestones, which the company expects to begin, but cannot guarantee to achieve, towards the end of 2022.
Additionally, LDA Capital Limited also has the option to purchase equity in Aftermath Islands Metaverse Limited.
After the announcement, David Lucatch, Managing Director of Aftermath Islands, stated that LDA’s commitment will support the long-term development of the Aftermath Islands Metaverse.
“Aftermath Islands’ Metaverse showcases the use of digital identity to support safety, privacy, and security and has adopted the use of high-resolution graphics and pixel streaming to give users a fast, no-download, photo-realistic gaming experience on any device,” he stated.
Warren Baker, a Managing Partner at LDA Capital, stated that the company is honored to take part in Aftermath Islands’ innovations for virtual worlds and games, which will transform how players engage and transact with in-game collectible NFTs.
“More importantly, the company is an industry leader when referring to Digital Identity verification, enabling a whole new world of in-game interactions. Ultimately, Aftermath Islands is transforming science-fiction into history, and we are proud to be co-authors of this story,” Baker stated.
Aftermath Islands Metaverse Limited is a Barbados corporation that is 50% owned and controlled by Oasis Digital Studios Limited, a fully owned subsidiary of Liquid Avatar Technologies Inc. Aftermath Island Token Limited, which is a fully owned subsidiary of Aftermath Islands Metaverse Limited, is a British Virgin Islands corporation.
The company’s metaverse is being developed as an open-world, realistic graphics platform with islands that represent destinations in a global virtual game.
Users can purchase, develop, trade, and sell virtual land (VL), real estate, and items such as buildings, crafted items, transport, and other items in Aftermath Islands Metaverse’s virtual world using in-game collectible NFTs, non-fungible tokens that denote ownership of virtual and other items.
Each plot or parcel of VL is distinct, and owners get to decide what content they wish to publish on their VL based on themes and other fair play guidelines.