The platform of virtual reality High Fidelity believes that, using blockchain technology, they can reach the size of their user audience about a billion people. The company announced that it raised $ 35 million in new revenue.
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As part of the D series fundraising round, $ 2 million was invested from Mike Novograts from the Galaxy EOS Ecosystem Fund, and investors such as Breyer Capital, IDG Capital Partners and Vulcan Capital were included.
Philippe Rozdale, CEO of High Fidelity, and the creator of the popular Virtual world Second Life, creates a Blockchain infrastructure to support a billion VR users and has already created its own crypto and digital registry.
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“The High Fidelity platform is currently in beta testing, so it was partially launched. Most of our early attention is focused on location-based objects “ says Rozdale.
The goal of High Fidelity is to join Metaverse or the universe of virtual reality worlds. Rozdale launched Second Life in 2003, resulting in a digital currency called Linden, which generated more than $ 4 billion in virtual transactions. For his new virtual world, he wants to use blockchain to create a token called High Fidelity Coin, a stable coin linked to the US dollar that will be needed to use the VR platform.
“If bitkoyn was in 2005, I would be glad to use it for Second Life” ,” said Rozdale.
Transactions in the VR-world will be registered in the blokchain EOS
In a virtual world, users will have access to digital tokens managed by a special device to purchase goods licensed by real traders. The purchase will be recorded by the seller on the blockchain EOS.
Sam Englbardt, head of the strategic partnership Galaxy Digital, will join the High Fidelity Council as part of the company’s investment requirements, the VR statement says.
“This is a global phenomenon that fundamentally requires a confidential mechanism of consensus on currency, property and identity.”
The total funding for round D of High Fidelity is $ 70 million. The company will use the funds to expand its research and development, as well as to hire personnel for its new offices in Seattle.
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