Peer raises $10.5M for metaverse engine, launches 3D personal planets
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Summary
Metaverse gaming engine developer Peer Global has secured $10.5m in funding to grow its team and speed up AI product development.
The company, whose total funding now stands at $65.5m, also used the investment to launch its 3D social hubs feature, enabling users to create their own personalised planets.
CEO Tony Tran said the platform was designed to encourage users to engage with the real world through location sharing, rather than spurring passive consumption of content.
He also praised the role of AI in creating content within the platform, saying it could offer a new kind of immersive, interactive gaming experience to end users.
The company intends to introduce in-game monetisation options and plans to expand its offering across multiple devices.