Virtual World Developer MARK.SPACE Secures $11M From New Strategic Investors

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An open-source, platform-agnostic social ecosystem, MARK.SPACE announced on Tuesday fresh funding of USD 11 million from a new group of strategic investors. This brings total funding secured by the company, since it was founded in 2014, to over USD 22 million. MARK.SPACE allows businesses, individuals, and other organizations to create VR and AR-compatible 3D worlds that are accessible from any device, browser or VR headset.

“MARK.SPACE is what we believe the next generation of the Internet looks like,” said the company’s co-founder and CEO Yana Kontorovich, in a statement. “Instead of words, pictures and videos on a screen, users will interact in a 3D world featuring ultra-realistic models of buildings, cars, clothes, and even avatars of people in a replica of the real world. From the comfort of home, you can enjoy a compelling social experience unlike anything else that is available online today. In addition to this strategic investment of USD 11 million, we expect to soon close an additional USD 7 million from another key investor which will further drive the growth of our platform.”

Using proprietary tools developed by MARK.SPACE, users create and host 3D virtual ‘units’, equivalent to approximately 70 virtual square meters, that can be populated with any combination of virtual objects or landscapes. Users will be able to make units private or publicly available and accessible through a unified browser within the MARK.SPACE universe. Ultimately, MARK.SPACE hopes to develop thousands of e-commerce and experiential opportunities throughout its virtual world.

Kontorovich concluded, “This year, we are on track to launch sales of MRK, our digital currency, and launch our residential and shopping districts. We’re also right on schedule with the development of our in-house blockchain infrastructure, which is a key feature underpinning both our digital currency as well as trading and leasing of units, and sales of goods and services in MARK.SPACE.”

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