Metaverse Sports Given Greenlight With $11m Atmos Labs Funding

A US$11 million (AUD $15.94 million) start-up fund by a collection of non-fungible token (NFT) investment funds is set to help develop the expansive sci-fi themed ‘Atmos’ gaming universe.

Sfermion, a US$100 million NFT investment fund, alongside web 3.0 investors, Animoca Brands, Collab+Currency and others, contributed to the start-up’s introduction of metaverse-native sports.

Sfermion co-lead investor, Andrew Steinwold, commented on the aspirations of the start-up.

“Atmos is delivering a refreshing blend of stunning aesthetics, competition, and a real digital economy, all while maintaining that commitment to true ownership of in-world assets,” Steinwold said.

The ambitious start-up aims to expand its community following funding, ultimately bringing a competitive sporting model to a play-to-earn gaming environment.

Atmos vice president of game design, Dylan Bushnell, added: “We are committed to building a world in which players can generate value from gameplay, own and trade interoperable assets in non-exclusive marketplaces, and govern ecosystems they helped create.”

Atmos chief executive and founder, Kevin Beauregard, commented: “People are going to congregate around the spectacle of competition in the metaverse just like they do in the physical word.”

“We are building metaverse-native sports and entertainment, a category we believe will bring excitement and substance to the metaverse concept writ large,” Bushnell said.

With growing global support, virtual reality powered by blockchain technology continue to battle criticisms.