Published by Jessica Weisman-Pitts
Posted on February 21, 2023
Spheroid secures $25 million in an investment commitment from ABO Digital as a strategic financing partner.
Spheroid is an AR/XR platform that uses the SPH utility token for powering all the activities in its ecosystem.
This funding commitment from ABO Digital marks a significant milestone for Spheroid, which plans on using the funds to continue building tools and capabilities within Spheroid Universe, such as Spheroid Script (A cross-platform programming language developed to speed up and reduce the cost of developing AR/XR applications) and Spheroid Demiurge IDE (Cloud-based integrated development environment for programmers and designers who work together on AR/XR projects), among others.
“This commitment from ABO Digital will enable Spheroid to continue developing and scaling the infrastructure within Spheroid Universe,” said Spheroid Universe Managing Director Andrea De Marco.
“We are excited to work with the Spheroid team going forward,” said Amine Nedjai, Director of ABO Digital, “Spheroid is building essential tools for creators in the AR/XR space which we believe will be seeing increased demand over time.”
About Spheroid
Spheroid Universe (Spheroid), an extended reality metaverse company, has announced that it has secured an investment commitment from ABO Digital for its utility token SPH. Spheroid is a platform for developing extended reality projects. The technological basis of the platform is the Spheroid XR Cloud and the Spheroid Script programming language designed for AR/XR creation.
SPH is the native token of the Spheroid ecosystem that fuels the activities of the platform. It can be exchanged for Spaces (virtual lands of the Spheroid Universe), used for advertising in XR, placing content, and for various platform services. Among the products powered by SPH there is Spheroid Earth – an open global project for creating Earth 3D Digital Twin.
About ABO Digital
ABO Digital is a digital asset investment firm, and part of the Alpha Blue Ocean group which has executed more than $2bn in financing commitments for publicly listed companies across the globe. ABO Digital is based in the Bahamas and invests in cryptocurrency projects globally.
