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Newsbrief: High Fidelity has closed a $35 million funding round, raising money the company says it plans to use to continue to develop its open source, blockchain-powered social VR platform.
The platform itself was created by Second Life founder Philip Rosedale, and seeks to provide devs global infrastructure for VR experiences, a sector High Fidelity predicts will boast an economy of $1 trillion in a decade’s time.
Specifically, the $35 million secured by this latest funding round will help the company expand R&D, accelerate hiring, and open a new office in Seattle.
The funding round itself saw contributions from Galaxy Digital’s EOS Ecosystem fund, Blockchain Capital, and existing investors Breyer Capital, IDG Capital Partners, and Vulcan Capital. Altogether, this now brings High Fidelity’s lifetime investments to over $70 million.