Metaverse Company Condense Raises $4.5 Million to Accelerate VR Streaming Adoption – Metaverse Bitcoin News

Condense, a Bristol, England-based metaverse company that produces technology to enable streaming of events to virtual reality apps, has raised $4.5 million in its most recent seed round. The round, which was led by Localglobe, 7percent Ventures and Deeptech Labs, provides Condense with funding to deepen its relationship with artists, record labels, content creators and metaverse platforms so that its technology is adopted by more companies.

Condense Raises $4.5M To Deepen Metaverse Streaming Adoption

Condense, a company based in Bristol, England, that offers metaverse streaming technology, has Announced has raised $4.5 million in its latest round of seed funding. The funding round led by Localglobe, 7percent Ventures, and Deeptech Labs will reportedly allow the company to develop deeper relationships with artists, record labels, content creators, and metaverse platforms to implement its metaverse proposition.

Condense’s proposal is considered an “infrastructure-as-a-service” business, meaning the company provides streaming services charged by time and returns 3D data that allows any metaverse world using engines like Unity or Unreal Engine to display a place. of the real world as it is. it is in reality. This means that any observer can enjoy real events as if they were in the venue or stadium where they are taking place. This is known as “Video 3.0” by Condense.

The company, which was founded in 2019, was boosted by the Covid-19 pandemic and the rise of virtual reality apps for remote events during that period. Subsequently, the company received $820,000 in one of its seed rounds, led by SFC Capital.

Metaverse Broadcast Studio

Nick Fellingham, CEO of Condense, announced that he intended to build a metaverse video studio in Bristol. On this he stated:

The Bristol scene has long been a world-renowned melting pot of different cultures and music, and in recent years has also become a hub for game development. Now we’re going to put Bristol on the map once again with the world’s first metaverse live streaming studio to bring together the energy of live events with the massive scale of the metaverse.

This is another approach in the metaverse field that seeks to transform real-world events and places into virtual worlds. In the past, the company has worked on joint projects with BT, a boxing broadcast studio, to apply its technology to these broadcasts. However, the success of these technologies is tied to the adoption of VR viewers such as Meta Quest, which also uses Meta to offer access to its main metaverse flagship app, worlds horizon.

What do you think about Condense and its metaverse video streaming technology? Tell us in the comments section below.

Serge Goshchenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as someone who was late to the game, entering the cryptosphere when the price spike occurred in December 2017. With a background in computer engineering, living in Venezuela and being impacted by the rise of cryptocurrencies on a social level, offers a different point of view. about the success of cryptocurrencies and how he helps the unbanked and underserved.

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