Atmos Labs Pulls $11m in Seed Round to Bolster Metaverse Development

Atmos Labs Inc, a metaverse gaming protocol, has raised $11 million in seed funding, as it looks to double down on its metaverse development push. 

Atmos is currently being fronted as a new play-and-earn metaverse, tasked with building an immersive experience that will pair an esports component with the fandom and sense of belonging that comes with conventional sports in a new virtual universe. The latest capital injection will enable the firm to achieve this landmark goal.

“People are going to congregate around the spectacle of competition in the metaverse just like they do in the physical world. We are building metaverse-native sports and entertainment — a category we believe will bring excitement and substance to the metaverse concept writ large,” said Atmos Labs’ Founder and CEO Kevin Beauregard.

As announced by the firm, the seed round was led by Sfermion and it saw participation from Animoca Brands, Collab+Currency, FBG Capital, Alumni Ventures, RedBeard Ventures, DWeb3, LD Capital, GSR Markets Limited, CoinGecko Ventures, Avocado Guild, UniX Gaming, and more.

The valuation of the startup remains unknown and the firm said it will use the new capital to build the foundation of the virtual game world of Atmos, grow its community, and expand the Atmos team.

The primary goal of Atmos is to debunk the myths surrounding metaverse-backed sports games. The startup is building the infrastructure that will help the global adoption of competitive sports in virtual environments.

The current terrain in the digital currency ecosystem is not one that encourages investments, but startups like Atmos have continued to bedazzle investors with their plans for the future of the metaverse. While the funding momentum is generally tapered down, venture capital funding has continued to flow to innovative protocols like Orderly Network and Utopia Labs as recently reported by Blockchain.News.