$11M seed round advances sports in Atmos metaverse

Atmos Labs, a play-and-earn metaverse developer, completed a $11 million seed round for the worls of Atmos, a competition-based realm created to advance metaverse-native sports, Invezz learned from a press release.

The round was led by Sfermion. Among the participants were notable entities like Animoca Brands, Alumni Ventures, RedBeard Ventures, Collab+Currency, FBG Capital, DWeb3, LD Capital, CoinGecko Ventures, UniX Gaming, and Avocado Guild.

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

The funds will be invested to grow the Atmos community, develop the basis of its virtual game world, and expand the team.

Adoption of metaverse sports is still in its infancy

Competitive metaverse sports enjoy limited global adoption at present and struggle with criticism of viewership legitimacy and exclusivity in terms of defining “sport”.

With the advent of DeFi, blockchain technology, and NFTs, however, traditional forms of gaming and sports are losing ground, putting players and even viewers at the heart of the ecosystem.

Combining esports with a sense of belonging

The new metaverse is creating an immersive experience that will combine fandom and esports with a sense of belonging typical of legacy sports. Seasoned professionals have built the game and its story with the purpose of advancing metaverse-native sports. They have decades of experience in crypto, gaming, films, the automotive industry, and more.

Atmos gamers will play and own teams, gear, moments, and identities via DeFi, NFTs, and the principles of the emerging metaverse.

Atmos Labs CEO and founder Kevin Beauregard believes his platform represents the next evolution of gaming. He commented:

People are going to unite around metaverse competition just like they have around competition in the real world.

Sfermion managing partner Andrew Steinwold added:

Atmos is delivering a fascinating blend of a real digital economy, competition, and stunning visual appeal while maintaining commitment to true in-world asset ownership.

Atmos will start a campaign to explore and present its metaverse-related items over the coming months.