England-based Metaverse Development Firm Condense Raises $4.5M

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  • Condense’s concept offers transmission services that are paid by time.
  • There is a plan to establish a metaverse video study in Bristol.

In its most recent round of seed fundraising, Condense, a Bristol, England-based provider of metaverse streaming technology, has secured $4.5 million. It is said that the money from Localglobe, 7percent Ventures, and Deeptech Labs would help the firm to build closer ties with artists, labels, content providers, and metaverse platforms in order to achieve its metaverse plan.

Custom Built and Ready to Deploy Enviroments

An “infrastructure as service” startup, Condense’s concept offers transmission services that are paid by time, and returns 3D data that can be used by any metaverse environment utilizing engines like Unity or Unreal Engine to portray a real-world venue as it really is. To put it another way, this implies that anybody may watch live events as if they were there in person. Condense refers to this as “Video 3.0.”

The Covid-19 epidemic and the advent of virtual reality applications for distant events sparked the company’s formation in 2019. After that, SFC Capital led a seed round of $820,000 for the startup. There is a plan to establish a metaverse video study in Bristol, CEO of Condense Nick Fellingham revealed.

The CEO said:

“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.”

These virtual worlds may be created by taking real-world occurrences and making them a part of the metaverse sphere. A boxing broadcasting studio, BT, has collaborated with the corporation in the past to use its equipment in these broadcasts. 

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