HomeNewscoinquora.comThe Kingdom Secures $3.6M Funding Round for Culture-led Metaverse

The Kingdom Secures $3.6M Funding Round for Culture-led Metaverse

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  • The Kingdom officially secures a $3.6 million funding through a private round.
  • The network continues to collaborate with other organizations to expand its marketing reach.
  • The first NFT partnerships are expected to be announced in Q2 2022.

Culture-led Metaverse network, The Kingdom, has officially secured a $3.6 million funding on its private funding round. As per the information gathered by CoinQuora, the funding was joined by numerous investors that believed in the project to be at the forefront of Web3 development.

The Kingdom network will become an open-world metaverse designed to focus on culture-led experiences. The non-fungible tokens (NFTs) are one of the core facets of the network. In addition, it will feature various NFT avatars that can socialize, play and entertain in an immersive digital environment.

Furthermore, the network features land parcels for users to stake and enable them to establish new structures and zones.

The Kingdom CSO Josh Kovac comments:

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.

He added that 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.”

In terms of use cases, The Kingdom introduces its play-to-earn (P2E) features for those who are interested in playing games and creating user-generated content. The users’ rewards can be used to purchase NFTs and upgrades for characters.

The network also enables brand partners to generate NFTs that can be sold or used in an open-world metaverse for various purposes. The Kingdom’s team is currently in talks with different organizations in and outside the crypto world to expand its marketing reach and collaborative opportunities. As per the network, the first NFT partnerships are expected to be announced in Q2 2022.

On the other hand, the vision for The Kingdom has attracted the attention of various investors and VCs in the space. A new private funding round raised $3.6 million in working capital for the team. The round noted participation by Infinity Ventures Crypto, Alameda Research, Shima Capital, Newman Capital, Sweeper DAO, 3 Commas, Chiron Partners, SMG, and Liquid Lab Ventures.



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