More than $500 million in real estate was sold on the four major metaverse platforms in 2021, according to the data. Traditional real estate companies are among the many investors flocking to claim land in virtual worlds like Decentraland and Sandbox. While significant questions remain as to which platforms and use cases will prevail in the metaverse craze, one thing is clear: capital is flowing rapidly into the metaverse, and “unreal real estate”, so to speak, is no exception.

Alternative asset crowdfunding platform Republic is an active investor in metaverse real estate properties through its Republic Realm division, led since June 2020 by Janine Yorio. Now Yorio is turning Republic Realm into his own private company called Everyrealm, though Republic will remain a minority investor, Yorio told TechCrunch in an interview.

Everyrealm hopes to become “the gateway to the entire metaverse ecosystem,” according to the company. He’s invested in 25 different metaverses and now owns more than 3,000 NFTs, Yorio said.

“We started by investing [in the metaverse], but we have since expanded our mandate to do much more than that. We consider ourselves Metaverse content developers, so we don’t just passively invest and sit and wait for other people to build things,” Yorio said. The company has built on several of its virtual properties — for example, it launched a retail store concept in Decentraland two weeks ago, which it plans to expand to other metaverse platforms, Yorio said. . 10,000 virtual items in the store sold out within an hour, she added.

Everyrealm also operates a virtual educational campus called Realm Academy in the Somnium Space metaverse, where users can learn about Web3 concepts through online courses. Its inaugural class has 500 students who paid $1,000 each to attend, Yorio said.

Yorio said examples like these prove that users are willing to pay for experiences in the metaverse. She also looks at how assets sold by Everyrealm perform on secondary market platforms like OpenSea as a gauge of traction.

Developing content in the Metaverse can be a time-consuming process, Yorio said, noting that Metaverse experiences are “even more complicated than video games in most cases” to build due to their interactive and infinite nature.

“While we wait for these platforms to launch and mature, we want to build the online communities and educate people about what the metaverse is, and also how they can get jobs in the metaverse, so that they can actually be builders, because the whole point of web3 is that content creators are content consumers,” Yorio said.

Everyrealm has raised $60 million to fund its growth as a standalone entity in what the company says is one of the largest Series A raises for a company led by a female CEO. Arianna Simpson of Andreesen Horowitz led the round as a new investor alongside a mix of new and old backers, including venture capital firms Coinbase Ventures, Lightspeed and Dapper Labs, as well as the famous angel investors Paris Hilton, Lil Baby and Nas, among others.