Metaverse Ventures and Decentraland Co-Invest in Vegas City
LONDON, December 6, 2018 (Newswire.com) - Vegas City, a popular virtual district operating in Decentraland, today announced that they raised investment funding from two entities: Metaverse Ventures, a Digital Currency Group company, and Decentraland, the creators of the Ethereum-based virtual world. Decentraland is a platform where individuals and businesses can create 3D content and applications which can be monetized and viewed in virtual reality. Vegas City is the largest gaming district in Decentraland and it can be accessed in a web browser, or by exploring Decentraland with virtual reality goggles.
The investment is a large step forward for the Vegas City project, and will enable Vegas City to mobilize as a registered company operating within the relevant legal frameworks and move toward the initial release of Vegas City. Vegas City’s plans include the Implementation of leases for early adopters who wish to find the best LAND parcels in Vegas to start their business.
Vegas City’s Chief Executive Officer James Ashton, stated, “Vegas City is delighted that Digital Currency Group decided to launch its exciting MetaVerse Ventures project with a seed investment in Vegas City. Decentraland are co-investing with DCG and I am very excited to be able to say that Ari Meilich, the Project Lead of Decentraland, is acting as a strategic advisor to Vegas City.”
Meanwhile, Vegas City’s Chief Operations Officer, Jess Ford added, “Our Vegas City MVP is progressing well, the seed funding we have received has allowed us to fast-track the development of gaming and interactive experiences. We look forward to the next few months as the build-out of Decentraland ramps up.”
A spokesperson for Decentraland highlighted, “The Community Districts are a cornerstone of Decentraland, and we're excited with how some of them in particular have been developing. We’re happy to provide further support to Vegas City, an excellent example of the Decentraland community coming together to build a business on top of the Decentraland platform.”
“We’re thrilled to build a new venture that is exclusively focused on investing in Decentraland projects, and even more excited that Vegas City will be one of our first investments,” said Travis Scher, VP Investments at DCG. “James and his team have built a fantastic project and we look forward to supporting the team as they continue to grow and expand engagement in Decentraland.”
Vegas City is the first district within Decentraland to announce that they have received funding from external entities, showing that Vegas City is poised to become one of the premium VR gaming and leisure areas in cyberspace.
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Source: Vegas City Limited