Eikonikos, a Dubai-based metaverse start-up, raised $2 million in pre-seed funding from angel investors as it seeks to expand its ecosystem and attract more users into the emerging digital realm.
“As investors, we are primarily concerned with the product and the personnel behind it. Eikonikos has a top-tier metaverse product and is directed by a well-balanced crew, that promises to become a big global player in future.”
~ C.J ,a partner at the angel investment firm
Eikonikos envisions creating an open metaverse platform that is owned by Web3 followers, developers, and a growing community of players. The company is currently in the process of issuing digital assets for investment as it gears up for commercial launch in May 2022, when its valuation will jump.
The metaverse is the new digital space that allows those in it to communicate and move using three-dimensional avatars or digital representations. The global metaverse industry was valued at $47.69 billion in 2020 and is projected to grow at a compound annual rate of 43.3 per cent to hit $828.95bn in 2028, according to Emergen Research.
“We are very determined to create a platform that directly competes and rivals metaverse giants like Decentraland and Sandbox. We will be able to interact with other Metaverse economies in the future. Building a dedicated and crypto-native audience that likes our dope Non-Fungible Token (NFT) designs, intense gameplay.”
~ Vineeth, CMO and co-founder of Eikonikos
The current pre-seed fundraising round would help the company to extend its ecosystem, bringing more fans into the digital realm.