Rekt Studios pulls in $1.5m for its blockchain technology


Rekt Studios, a Dubai-based startup specialised in leveraging blockchain and emerging technologies has raised $1.5m in funding to bolster the development of the ‘Unseen’ ecosystem.

The funding came from Cypher Capital, a Dubai-based leading blockchain and web3 venture capital firm.

Unseen is a decentralised virtual ecosystem centred around gaming, entertainment, and the buying and selling of digital assets.

It is accessible directly through the ownership of any EVM-compatible Non-Fungible Token (NFT) in existence. The ecosystem is made for entertainment first, but provides “ample opportunities” for users to invest, create, sell, and buy digital assets and experiences.

Creators on the platform can make anything from games, experiences, and metaverse buildings to digital assets.

Unseen seeks to redefine the concept of “digital ownership” by providing source files for any digital asset to all corresponding creators and owners for them to interact with and utilize to the full extent of their imagination.

Bill Qian, Rekt Studio’s board advisor, said, “I am confident that the ambitious plans which Rekt Studio have laid out to date alongside their stated goals of Rekt Studio will have a very positive impact on the region. The new funding will not only enable further game development but will also fuel expansion and the studio’s marketing efforts.

“Our immediate goal is to provide the Middle East with a distinct and accessible gaming ecosystem, while also establishing the region as the most prominent space for abundant opportunities in this space.”

Earlier this year, SettleMint, which has developed a high-performance low-code platform for blockchain application development, raised $16m in its Series A.

Molten Ventures and OTB served as the co-lead investors of the oversubscribed Series A. Medici Ventures, a blockchain focused fund, also joined the round, as did Fujitsu Ventures, Allusion, and Bloccelerate.

With the capital, SettleMint plans to solidify its position in Europe, MEA, India and Singapore. It is also looking to enter Japan.

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