Everdome Secures USD 10 million Investment Commitment from GEM Digital Limited

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Dubai, UAE, 9th August, 2022, Chainwire

Everdome, the most hyper-realistic metaverse, has announced that GEM Digital Limited (GEM), a Bahamian-based, digital asset investment firm, that sources, structures and invests in utility tokens listed on over 30 CEXs and DEXs globally, has agreed to an investment commitment of USD 10 million into the UAE-based metaverse company, through a structured token subscription agreement. 

The announcement comes during a period of heightened activity for Everdome, particularly in terms of its product roll-out and the company’s auction of metaverse land plots. Since June 2022, a total of 11,700 plots (97%) located throughout the Everdome metaverse were sold throughout an eight-week auction experience. In total, plots were purchased for upwards of USD 18.6 million, which is equivalent to 1,531,000,000$DOME, Everdome's own digital currency. The average price of a plot of land in Everdome was 130,000 $DOME. 

Everdome will control the timing and the number of drawdowns under this facility, and has no minimum drawdown obligation. At its discretion, Everdome has the ability to sell up to 200% of its average daily volume, in Tokens across multiple exchanges to GEM Digital.  

According to Rob Gryn, CEO and Founder of Everdome, the commitment from GEM will be used to strengthen Everdome's offering and ensure future sustainability in the business. "We're thrilled to partner with and achieve this investment commitment milestone with GEM, which confirms that we're on the right track as we seek to push new boundaries in the metaverse. This is the perfect time for us to put our foot on the gas and really grow