LDA Capital Commits $25 Million for Buildout of the Aftermath Islands Metaverse
July 27 2022 - 4:01AM
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The funds will be used for onboarding users and scaling Aftermath
Islands’ numerous Metaverse initiatives Aftermath Islands Metaverse
Limited, the development company behind the highly ambitious
Aftermath Islands Metaverse project, has secured a $25 million
commitment from LDA Capital Limited, a global alternative
investment group. The company said that the funds will be used for
a wide range of project-related campaigns and programs, from user
onboarding and the development of play-to-earn opportunities to the
adoption of the Aftermath Islands Metaverse and the support of
Aftermath Islands’ unique NFTs, digital identity solutions,
cross-chain compatibility initiatives, play to earn programs, and
other cutting-edge decentralized applications at the intersection
of user identification, gaming, entertainment, finance,
virtualization, collaboration, and blended reality in the Metaverse
and the real world, the company said in a statement. “LDA
Capitals’s commitment will support the long-term growth of the
Aftermath Islands Metaverse. Aftermath Islands’ Metaverse
demonstrates how digital identity can support safety, privacy, and
security in both online and offline settings, and our
high-resolution graphics and pixel streaming provide users with a
fast, no-download, photo-realistic gaming experience on any device,
raising the bar and expanding opportunities for what is possible
both in the Metaverse and in the real world,” said David Lucatch,
Managing Director of Aftermath Islands in a press release.
“Aftermath Islands’ virtual worlds and games have the power to
transform how players interact and transact with in-game
collectible NFTs, and LDA Capital is proud and excited to partner
with the project team in this movement. Aftermath Islands is a
recognized leader in digital identity verification in the online
space, which empowers users and developers to build and benefit
from a whole new world of in-game and real-world interactions.
Ultimately, Aftermath Islands is transforming science-fiction into
history, and we are proud to be co-authors of this story,” said
Warren Baker, Managing Partner, LDA Capital. LDA Capital is an
investment group focused on investing in the global private and
public markets. The firm provides capital solutions to companies
seeking financing in underserved markets and complex conditions on
a global basis. The team has executed over $10 billion in
transactions across over 40 countries over the last decade and is
one of Aftermath Islands’ high-profile partners and collaborators.
Metaverse opportunities were valued at approximately $27 billion in
2020, Aftermath Islands Metaverse Limited reported. With a
projected CAGR of about 40% over the next decade, the Metaverse is
expected to eclipse $820 billion in market value by 2030. LDA
Capital’s $25 Million commitment will provide access to non-equity
funds via the purchase of Aftermath Islands Utility Tokens,
contingent on the successful completion of predetermined project
milestones. The Aftermath Islands project team aims to achieve
those milestones toward the end of 2022. With the commitment, LDA
Capital has an option to purchase an equity stake in Aftermath
Islands Metaverse Limited. Earlier this week Aftermath Islands
released a demo video that offers a sneak peak at the project.
Aftermath Islands positions itself as a “shared virtual open world,
much like the Metaverse described by author Ernest Cline in his
science-fiction novels Ready Player One and Ready Player Two.” It
will allow users to interact with each other, create content and
play games, among other things. The Metaverse will feature an
in-game virtual economy with “a myriad of in-world economic
transactions” and the ability to monetize content, quests, and
applications.
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