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Limitless Invests $60m in Metaverse-as-a-Service Platform

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On Thursday, Limitless, the parent company behind the third-largest Metaverse application Next Earth, announced the launch of a new Metaverse as a Service (MaaS) platform for global companies.

Additionally, the firm is debuting digital real-estate sales on Next Earth, a digital twin of the entire Earth. The sales total 5 million plots of digital land that are purchasable using NFT-based transactions.

The news comes after rival Metaverse platform The Sandbox also debuted land sales last year, led by Hip Hop Superstar Snoop Dogg, after record-breaking Metaverse real estate transactions on the platform.

Limitless will support its MaaS platform with plans for a $60 million USD venture fund that assists startups joining Next Earth and the Limitless ecosystem. Accepted startups will also receive access to an application programming interface (API) to help with platform development.

The David Taylor, Co-CEO of Limitless, added,

“I think that most Metaverse [projects] are just trying to recreate Second Life – Instead of doing that, we’re going to create a middleware layer for the Metaverse. Through our API connections, any business small or large can connect to Next Earth”

Brands and businesses are currently employing the Limitless ecosystem to get a broader audience share. The news comes as SEE Turtle launched an immersive gaming campaign on Friday to raise money for environmental causes through digital land sales.

Brands active on the Next Earth platform hope to reach a large audience, and to date, Next Earth holds 230,000 registered users and 45,000 landowners.

What Is Metaverse as a Service?

Software-as-a-Service (SaaS) refers to a subscription-based model for using software platforms rather than purchasing a lifetime or perpetual license.

Due to businesses investing in Metaverse platforms to enhance remote communications, firms such as Lovelace World, Propel MaaS, Touchcast, and MetaVerseBooks are also exploring MaaS solutions.

MaaS applications help companies build virtual worlds for collaboration, training, and networking purposes. Additionally, many Metaverse platforms integrate other emerging technology such as blockchain and NFTs to create a variety of use-cases.

In an XR Today round table on the Metaverse last month, panellists explored their role in developing new technologies for the future spatial communications platform as well as the potential benefits of enterprise-grade Metaverse services.

MaaS provides many benefits for a firm, despite some ethical and technical hurdles. Benefits include immersive peer-to-peer collaboration, enhanced audience engagement, and reaching new demographics.

 

 

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