3rd largest republic stock crowdfunding Seedrs, the US portal and owner of Seedrs, the UK’s largest portal, launched the ‘Republic Realm Metaverse Real Estate Fund’ in March 2021. This is only available to a small number of accredited investors. A few months later, the Test the Waters (TTW) regulation started in December 2021. This is a campaign open to all investors. The TTW regulation was so popular that it quickly exceeded the $75 million booking limit.
The fund mainly acquires virtual real estate for NFT games such as Sandbox, Axie Infinity and Decentraland. After purchasing the land, we plan to hold it for the long term while developing it into a community such as a virtual shopping mall and event space. These types of communities can generate “rent” just like real estate, providing ongoing income for the fund. This means that the fund’s investors will receive dividends like any other real estate investor, and as the value of land in the metaverse increases, they can eventually sell it for a significant profit.
On the one hand, the fund’s incredible performance may have drawn $75 million in investment. The fund returned 145% on its invested capital between its initial launch in March and the Regulation A hike in December.
But since then, it doesn’t look like all is going well. Crypto-based assets, for example, have deteriorated sharply since their peak in 2021. Moreover, since the demise of FTX, the Securities and Exchange Commission (SEC) has been cracking down on the sector. Additionally, since December 2021, we have not been able to receive investor funding and our fundraising is currently in limbo.
As of today, the SEC has officially closed and the fund will not proceed. In its latest update, Republic said:
“Based on the feedback we have received from the SEC and other regulatory events that have occurred since we began this process, we no longer see the future of this offering. I mean. We are working on the adjustments necessary to finally bring a similar offering to market.”
While the fund’s performance is likely down from its 2021 highs, it doesn’t appear that the fund itself has closed. Instead, the Regulation A offer will end. Luckily, it looks like the fund will either continue in another form or have a similar offering.
With the growing demand for the crypto market, a number of different funds have become available while waiting for other forms of funding to be provided by the Republic. One example is his KXCO.
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Under the Knightsbridge name, KXCO has become one of Asia’s leading financial services firms with interests in institutional investment, private equity, capital markets, publishing and agriculture across all continents of the world. We have unprecedented experience in equity, banking, private equity, trading and money management.
Wealth management and protection is important. KXCO can show you and your clients how to take advantage of the global marketplace to realize profits and gain protection.
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