LandVault bags investment worth $3m to develop “WordPress” for metaverse worlds

London-based company LandVault has secured an investment of $3m (£2.4m) to create a digital world for users in the gaming industry, despite a recent decline in interest around the metaverse.

The new funding comes in addition to a Series B investment of $25m (£20.2m) in 2021, with major players in Web3, including HoldCo, Sandbox, Kingsway Capital, and the Gemini Frontier Fund, all contributing to LandVault’s development.

According to CEO Samuel Huber, advancements in artificial intelligence technology have enabled the company to accelerate its plans for the metaverse economy. Huber believes the metaverse requires a ‘WordPress moment’ to allow for easy creation of digital experiences, and LandVault is investing heavily in research and development to create the necessary tools.

LandVault’s project called Matera aims to make the development of the metaverse more accessible, with funds set aside for R&D. The Sandbox COO Sebastian Borget praised the company for becoming one of the most active metaverse developers in just one year, pledging continued support for LandVault.

The metaverse is a virtual version of the internet accessed through VR headsets. Facebook’s recent name change to Meta highlights the company’s focus on augmented and virtual reality (AR and VR). Although there has been a decline in interest around the metaverse, Facebook still invests billions of dollars into the technology despite low adoption rates.

UK-based startups in the metaverse, including Improbable and Hadean, continue to raise capital despite the current slowdown in interest.

Phot credit: Pixabay