Rekt Studios raises $1.5 million to develop Metaverse gaming ecosystem

Rekt Studios, a Dubai-based gaming startup has announced a $1.5 million financing from Cypher Capital, to build a gaming metaverse ecosystem, Unseen.

• Rekt Studios was founded in 2021 by Elie Rizek and provides developers and designers with tools to develop blockchain-based products.
• The investment will help Rekt Studios develop and launch Unseen, a gaming metaverse ecosystem. A product the startup says is "capable of establishing itself as the leading gaming metaverse."
• According to the startup, Unseen is a fully immersive, interoperable decentralised virtual ecosystem centred around gaming, built to be accessible directly through the ownership of any Ethwreum Virtual Machine-compatible Non-Fungible Token (NFT) in existence.
• The startup says Unseen will provide simplified design, development, and integration tools for users to build on top of the platform and shape the world that they want to see. Creators can make anything from games, experiences, and metaverse buildings to digital assets.
• Launched early this year in Dubai, Cypher Capital is a $100 million VC fund focused on backing startups in web3, blockchain, crypto and other digital assets.
• In a statement, Rekt Studios disclosed that Bill Qian, Chairman of Cypher Capital, and Rekt Studio's board advisor will support the studio's ambitious plans for operations, partnerships, and growth.