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

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

Condense, a Bristol, England-based metaverse company that produces technology to allow the 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, gives Condense funding to deepen its relationship with artists, labels, content creators, and metaverse platforms in order for its technology to be adopted by more companies. Condense Raises $4.5 Million to Deepen Metaverse Streaming Adoption

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

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

The company, which was founded back in 2019, was spurred on by the Covid-19 pandemic and the rise of virtual reality applications for remote events during that period. Afterward, the company received $820,000 in one of its seed rounds, led by SFC Capital. Metaverse Streaming Studio

Nick Fellingham, CEO of Condense, announced he had the intention of building a metaverse video study in Bristol. About this he stated:

The Bristol scene has long been a world-renowned melting pot of different cultures and music and, in the last few years, it’s become a hub for games development too. 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 focus in the metaverse field that seeks to transform real-world events and venues into virtual worlds. In the past, the company has worked on joint projects with BT, a boxing broadcasting studio, in order to apply its technology to these transmissions. However, the success of these technologies is tied to the adoption of VR headsets like the Meta Quest, which is also used by Meta to offer access to its flagship metaverse main app, Horizon Worlds. Tags in this story condense, COVID-19, Events, seed round, venues, video straming, Video Streaming, volumetric video, VR

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

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved. Ethereum Co-Founder Vitalik Buterin Criticizes Corporate Metaverse Attempts — ‘Anything Facebook Creates Now Will Misfire’ METAVERSE | 17 hours ago Hong Kong University of Science and Technology to Build Metaverse Campus METAVERSE | 3 days ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleA One-of-a-Kind GameFi Ecosystem Is Set to Blow the Competition out of the Water – Introducing Ryber Next articleThe Power of Loyalty Points and the Importance of Getting Them Right – Dennis Jarvis, CEO of Bitcoin.com Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItOman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework

Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)"s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.Tony Hawk"s Latest NFTs to Come With Signed Physical Skateboards Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn"t Be Surprised if Stocks Fell 40%