New York-based Republic Realm has launched Everyrealm, a new brand that it hopes will become a leader in the metaverse.
Republic Realm’s vision of “becoming the gateway to the entire metaverse ecosystem” has inspired a total rebrand of its name.
The company launched in April 2021 as an arm of real estate fintech company Republic. Now, the company is developing a metaverse and NFT innovation and investment platform under a new brand: Everyrealm. But the name isn’t the only notable update. New York-based Everyrealm now operates as a private, independent entity.
“We are building the gateway to the metaverse, to do for the metaverse what Coinbase did for crypto, what Netflix did for streaming entertainment, and what Google did for the internet,” Everyrealm CEO Janine Yorio said in a press release.
Alongside the rebrand, Everyrealm closed a $60 million Series A funding round led by Andreessen Horowitz. The round features investments from Dapper Labs, Coinbase Ventures, The Sandbox, Nas, Paris Hilton, Randi Zuckerberg, and more.
Everyrealm has holdings in 25 metaverse platforms, owns over 3,000 NFTs, and manages more than 100 metaverse real estate developments.
Among the powerhouse’s top metaverse projects are Realm Academy — an online education campus located in Somnium space — and Fantasy Islands, a luxury community in The Sandbox that sold an associated NFT mega-yacht for $650,000.
Metaverse real estate is real as ever right now. MetaMetric Solutions, a metaverse data and analytics firm, reported that metaverse real estate sales on the top-four metaverse platforms — Decentraland, The Sandbox, Cryptovoxels, and Somnium — reached $501 million in 2021. That number includes the $4.3 million that Everyrealm invested in a plot of land in The Sandbox last November.
“Metaverse real estate development is all about placemaking,”Yorio continued. “Everyrealm creates innovative and addictive social spaces that are futuristic and interactive like video games but still familiar to a mainstream audience by invoking real-world architecture, culture, and events.”
She added: “Everyrealm is developing this interactive content across many genres, including sports, education, fashion, gaming, art, and social experiences — all designed to draw users to the metaverse. We are also creating the infrastructure required to distribute that interactive content to a global, mainstream audience.”
With the rebrand, Yorio will continue to lead Everyrealm as CEO, while Republic remains a minority investor.
“Right now, it’s easy to speculate about the metaverse with abstract ideas and talk about all the ways it can change the world, but the real change needs to happen from actually building it,” Yorio told Boardroom. “As one of the most active placemakers in the metaverse, [Everyrealm] maintains a focus on value creation and community building.”
Value creation, community building, and, it seems, more to come. Everyrealm’s Series A drew support from the music industry, which may signal that the up-and-coming startup is getting into the virtual concert business. Either way, there’s plenty of room — an entire metaverse — to grow.