Next Earth has announced a $12.5 million strategic investment in blockchain company Limitless as part of efforts to open new doors in the expanding metaverse.
Through the new investment, Next Earth aims to open new opportunities for startups to be successful and create a ‘thriving metaverse economy’, along with all the possibilities virtual reality has to offer.
Next Earth has stated that it sees Limitless as a ‘trusted provider of system integration’, in hopes to build a strong service platform. Conversely, Limitless believes Next Earth to be a ‘key strategic partner’, which aims to bring about valuable capital investment.
Newly appointed Limitless CEO, David Taylor, commented on the partnership: “Now within the Limitless network there are over 700 venture capital firms and also 1200 startups that are potential service providers within the Next Earth metaverse, which has been done through strategic partnerships that Limitless has been making.”
Powered through NFTs, Next Earth uses NXTT tokens for users to buy and consolidate land in the metaverse. The firm then enables users to stake land that can then be turned into profit by attracting new users.
The metaverse platform also looks to provide entertainment, opportunities for entrepreneurs, charitable donations and more through the use of crypto-based currencies and NFTs.
Taylor added: “Limitless started building a $260M metaverse to fund to breath out new metaverse startups that will be onboarded to Next Earth, giving utility to the land and NXTT, creating the first generation of successful metaverse startups in the next five years.”