MARK.SPACE Secures US$11 Million in Financing to Drive Growth of Blockchain-Powered Social VR & AR Platform

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  • Investment will support the rapid expansion of MARK.SPACE’s unique open-source social VR & AR-compatible platform
  • Additional funding from new strategic investors brings total financing to $22 million

Singapore, April 10, 2018 – MARK.SPACE, which operates the world’s first open-source, platform-agnostic social VR and AR-compatible ecosystem, today announced that it has secured US$11 million in from new strategic investors. To date, the company has raised a total of US$22 million from investors globally since the company was founded in 2014.

MARK.SPACE enables businesses, e-commerce merchants, and private individuals to quickly and easily create a fully 3D, VR and AR-compatible world that can be accessed from any device with any browser, while also being well-suited for any VR-enabled headset. Using simple and easy-to-use proprietary tools developed by MARK.SPACE, users can develop state-of-the-art virtual ‘units’, and the 3D objects inside the units. These virtual ‘units’ exist independently, and users can host them on their own domains. Additionally, any user of the MARK.SPACE universe can browse and access these virtual spaces inside the MARK.SPACE universe, driving new traffic to businesses and communities using the platform.

The Next Generation of the Internet

The MARK.SPACE universe is divided into separate communities to suit different user needs, from residential spaces where families or friends can gather, to community spaces where social groups can interact, to shopping and commercial districts where merchants and businesses can interact with potential clients, customers, and business partners. Each community is then subdivided into individual units consisting of a virtual space of approximately 70 square meters, with ownership records for each unit recorded using blockchain technology. Users of the MARK.SPACE universe can browse thousands of virtual districts, streets, shops and businesses, creating the unique experience of working, living, and shopping in an entirely virtual world. MARK.SPACE also has its own digital currency, the MARK (MRK), which supports all transactions on the platform, including trading in units, products and services.

Yana Kontorovich, Co-founder and CEO of MARK.SPACE, said:

“MARK.SPACE is what we believe the next generation of the Internet looks like. Instead of words, pictures and videos on a screen, users will interact in a 3D world featuring ultra-realistic models of buildings, cars, clothes, and even avatars of people in a replica of the real world. From the comfort of home, you can enjoy a compelling social experience unlike anything else that is available online today.”

Ambitious Rollout Plan Well on Track

With the size of the VR market estimated to reach over US$40bn by 2020, global investors have shown significant interest in the MARK.SPACE offering.

“In addition to this strategic investment of US$11 million USD, we expect to soon close an additional US$7 million from another key investor which will further drive the growth of our platform,” Yana continues.

With these fund in place, MARK.SPACE will begin the build-out of its virtual universe, which in the first phase will cover residential, shopping and business districts. The company will also roll out its own blockchain architecture, which will support the sale and leasing of units, as well as in-world transactions. MARK.SPACE is also working on rolling out an e-commerce platform to offer in-world shopping, which will support in-world payment methods including MRK, other digital currencies, and credit cards.

“This year, we are on track to launch sales of MRK, our digital currency, and launch our residential and shopping districts,” said Yana. “We’re also right on schedule with the development of our in-house blockchain infrastructure, which is a key feature underpinning both our digital currency as well as trading and leasing of units, and sales of goods and services in MARK.SPACE.”

Media Contact

Dmitriy Filonenko

Marketing & PR Manager

MARK.SPACE

Email: [email protected]

Official Website: https://mark.space/

Social Media: https://medium.com/@markspace

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