Aftermath Islands got $25 million from LDA Capital for its metaverse project by selling in-game utility tokens.
David Lucatch, the general director of Aftermath Islands, says that the company decided to sell LDA Capital utility tokens from its metaverse game over time instead of signing a traditional venture capital agreement.
“We’re making a metaverse with Unreal Engine 5’s graphics.” According to Lucatch, this makes it different from the usual low-res cartoon images. We also use something called “pixel streaming.” And the 6,000 sales we’ve made so far have brought in more than $2 million. We are different because we have started and finished decentralization in a good way.
“We have decentralization with identity at the front to make sure that people who come into our metaverse are real people and real users,” he said. Even though NFTs and everything else is on the back end, we still look at centralized games in the middle because management needs to know what to do.
That means the company hasn’t decided if it will use a decentralized autonomous organization (DAO) yet (DAO). The business has 20,000 people following it on Twitter, and about 12,000 people use its Discord channel.
The company plans to use the money to speed up the development of Aftermath Islands, which is both a play-to-earn blockchain game and a real world where it will sell virtual real estate. Aftermath Islands wants to grow its ecosystem, support the development of its non-fungible tokens (NFTs), and work on its play-to-earn game, multi-chain projects, digital identification, and other decentralized efforts.
“We are making sure that people who come into our metaverse are authenticated on some level,” said Lucatch. This lets everyone know that they are real people. “We want real people to have one user and one account. That is a very important point. We also wanted graphics that looked real.
Aftermath Islands Metaverse Limited and Aftermath Islands Tokens Limited were able to get the money. Even though Lucatch is based in Toronto, its main office is in Barbados, which is part of the British Virgin Islands. LDA also has the choice of putting money into Aftermath Islands Metaverse Limited.
Oasis Digital Studios Limited, which is a wholly owned subsidiary of Liquid Avatar Technologies Inc (CSE: LQID, OTC: LQAVF), owns and controls 50% of a Barbados company called Aftermath Islands Metaverse Limited.
In a statement, LDA Capital’s managing partner Warren Baker said, “LDA Capital is thrilled to join the innovations that Aftermath Islands is bringing to virtual worlds and games, which will change how players interact and do business using collectible NFTs in-game.” More importantly, the Company is a leader in digital identity verification, making it possible for people to interact in games in completely new ways. In the end, Aftermath Islands turns science fiction into history, and we are proud to have helped with this work.
Lucatch said that instead of selling tokens to the public all at once, the company chose to get its first money from a long-term investor. It uses high-resolution graphics and pixel streaming to give users a fast, photo-realistic gaming experience on any device without the need to download anything. It also promises to use digital identification to keep users safe, private, and secure. He said that the business is making its universe with Unreal Engine 5.
“It reminds me a lot of Ernest Cline’s ideas for Ready Player One, in which education and work are combined in a virtual world. After that, you can go out and do quests and other fun things. We could put people into groups based on the things they do every day and the things they want to do, like breaking the laws of nature and physics.
LDA Capital will buy Aftermath Islands Utility Tokens over three years if certain goals are met. Aftermath Islands thinks these goals will start to be met by the end of 2022, but they can’t promise it.
The Aftermath Islands Metaverse is being built as an open-world platform with realistic graphics and islands that can be used as settings for a massively multiplayer online game. In the virtual world of Aftermath Islands Metaverse, users can buy, build, trade, and sell virtual land, property, and goods using collectible NFTs, which are non-fungible tokens that show who owns virtual and other goods.
Each plot or piece of virtual land is different, and the owner gets to choose what to put on it based on themes and other rules for fair play. This is shown by things like simple landscapes and buildings, interactive games, businesses, warehouses, homes, and destinations.
In the Aftermath Islands Metaverse, users can buy virtual land and all other goods and services with fiat money, other recognized currencies, cryptocurrencies, and tokens. Users will soon be able to get their hands on DUBS, or Doubloons the Aftermath Islands Metaverse. Aftermath will release those DUBS tokens as a cryptocurrency at some point in the future. You won’t be able to pay it out, though, because if you did, the U.S. might see it as regulated security.
Aftermath Islands Metaverse is a shared, open, and virtual environment that is based on Ernest Cline’s science fiction books Ready Player One and Ready Player Two. Digital identity verification helps keep the environment safe. When its beta platform goes live in the second half of 2022, the Aftermath Islands Metaverse will let users connect, talk to each other, make content, craft, do activities and quests, and play games.
In the Aftermath Islands Metaverse’s virtual economy, users will be able to buy and sell things in-game and sell the content, objects, quests, and apps they make.
Thirty people, both inside and outside the organization, work for it in places all over the world.
Lucatch says that the play-to-earn game will be affordable because you can buy plots of land for as little as $35 and earn NFTs by playing.
“Someone can go out there and play, make NFTs, and sell them on the market,” he said. They don’t have to buy land to do this. They will then have enough tokens to buy land.
Players will be able to do crafting. Lucatch says that the business will have fun things like metaverse karaoke, where people can sing into their microphones.