Gemini plans to attract investments and become a competitor to the Facebook metaverse
The first round of funding of $400 million is nearing completion

20.11.2021 - 07:15
362
1 min
0
What’s new? The Winklevoss brothers' company Gemini plans to compete with the metaverse from the Facebook social network. The first round of fundraising to develop the projects is all but complete.
News source on the Forbes website
What is known about Gemini's investors? The funding round was led by Morgan Creek Digital. Other announced participants include funds such as WndrCo, Marcy Venture Partners, VanEck, 10T Holding, and Commonwealth Bank. The total amount of funds raised may reach $400 million.
What will the funds be used for? Gemini plans to use the $400 million funding to develop its own metaverse, as opposed to a similar project from Facebook (Meta). Moreover, Gemini's metaverse may be the first independent decentralized virtual space.
Useful material?
Crypto regulations
Under the new law, no cryptocurrency reserve can be created at the state level
Jun 11, 2025
Mining
This is the 300th block mined within this pool
Jun 5, 2025
Incidents
The marketplace started operating in 2022 and allowed trading in stolen personal data
Jun 5, 2025
Incidents
Hackers laundered assets using Tornado Cash, Thorchain, and Wasabi mixers
Jun 2, 2025
Market
After June 30, fines and prison sentences will be imposed for violating the rules
Jun 2, 2025
Crypto regulations
He also stated the country’s aspiration to become a Eurasian IT hub
May 29, 2025