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Somnium Space Looks To Raise Funding For Cross-Platform VR World

Somnium Space is one of the companies attempting to leverage technologies such as Blockchain and cryptocurrency in an effort to create a shared, cross-platform virtual reality (VR) world. The company are attempting to raise funding by launching a seed funding round on Equity Crowd-funding site SeedingVR.

Somnium Space have developed an internal partnership with High Fidelity, JanusVR, Admix and other who are part of the Virtual Reality Blockchain Alliance (VRBA) as part of a joint effort to create an open VR world that is built and shaped by the users.

By blending the technologies of the various companies, users will be able to teleport in and out of virtual worlds and buy, sell and build almost anything they can imagine, from housing to cars to weaponry.

The world that Somnium Space and the other members of VRBA envision is one that is fully interconnected, seamless and accessible from any other device, VR or not.

Somnium Space founder Artur Sychov said: “We’re proud of what the team has achieved so far and humbled by the support of our high caliber partnerships. We are creating a virtual reality world where users can travel between other VR worlds seamlessly and enjoyably with transferable identities and assets. A fun, social virtual world where players can actually build revenue streams with real world value.”

Interested parties can invest in Somnium Space by visiting the SeedingVR page for the company. The minimum investment amount is £100 (GBP), and each ordinary share is priced at £16 per share, and investors are entitled to full dividend participation, capital distribution and voting rights. There is an additional offer available to those purchasing 25 or more shares, who will receive a virtual land parcel.

The company is looking to raise £400,000 in return for 20% equity and funds raised will go directly into further development of the Somnium Space VR world.

Further news on Somnium Space and other VR companies will be here on VRFocus.