Dubai-Based Metaverse Firm Everdome Gets $10 million Funding

Everdome, a Dubai-based metaverse company, has secured an investment pledge of $10 million from a digital asset investment firm GEM Digital.

Everdome plans to use the funds to expand its operations and develop a sustainable business model. The funding is structured as a token subscription agreement, with Everdome controlling the timing and the number of drawdowns under the facility.

This is the perfect time for us to put our foot on the gas and really grow our product, which GEM's investment commitment will help us to do,

CEO and founder of Everdome Rob Gryn said.

In mid-July Dubai announced the launch of a brand-new Metaverse Strategy and plans to host the Dubai Metaverse Assembly, the first industry event focused on the technology, in September.