cryptoknowmics.com
LDA Capital, a major international investment organization, has committed $25 million to the blockchain-based virtual reality platform, Aftermath Islands. A utility token purchase campaign will be used to raise the money, and it will be dependent on Aftermath Island reaching specific milestones.
Numerous Initiatives To Use The Money
According to the company, the funds will be put to use for a variety of project-related campaigns and programs, support of Aftermath's Islands distinctive NFTs, cross-chain compatibility programs, cutting-edge decentralized applications at the intersection of users, enterprising business models, digital identity initiatives, Play-to-Earn programs, gaming, and from user onboarding and the creation of Play-to-Earn opportunities to the adoption of the Aftermath Islands Metaverse. David Lucatch, managing director of Aftermath Islands, told VentureBeat that the business opted to acquire money gradually through utility token sales rather than all at once through a traditional venture capital transaction. The money will be generated to fasten the development of Aftermath Islands' product plan, which includes a play-to-earn blockchain game, a realistic environment, and digital real estate. Warren Baker, the Managing Partner of LDA Capital, said,
"LDA Capital is proud to participate in the advancements brought by Aftermath Islands to the virtual worlds and games that will transform how players interact and transact with in-game collectible NFTs."
Through the purchase of Aftermath Islands Utility Tokens in accordance with the accomplishment of specific milestones, the funds provide LDA Capital with access to non-equity dilutive growth funds. Although it cannot promise completion by the end of 2022, Aftermath Islands anticipates starting to work toward the milestones. Additionally, LDA has the option to invest in Aftermath Islands Metaverse Limited.