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Gemie, an Asia-focused Entertainment Metaverse, Raises $3.8 Million

Gemie, an ambitious blockchain-based project that is building a metaverse where Asia’s A-list celebrities can develop their own customizable virtual worlds and better interact with fans, has raised $3.8 million in an investment round led by Shima Capital, Infinity Ventures Crypto, and NGC Ventures.

Building an Entertainment Metaverse and a Premium NFT Marketplace

As per a press release on February 17, Gemie will use the funds to accelerate the building of its premium NFT marketplace and the eventual launch of their core product, an entertainment-themed metaverse where top profile Asian celebrities like K-Pop Stars and entertainment franchises can design and release NFT collectibles and engage with millions of adoring fans. 

As a platform, Gemie is uniquely positioned to serve the Asian entertainment industry based on their team’s deep understanding of the region’s pop culture and the distinctive dynamics of Asia consumers. 

According to John Fung, the co-founder of Gemie, Asia’s entertainment industry is unique and impactful but lags behind the U.S. and Europe, especially in adopting the metaverse. As such, the Gemie platform is a timely addition and a necessary move to introduce celebrities, fans, and collaborators in the multi-trillion global entertainment sphere to the metaverse, a sub-sector that’s also projected to reach over $890 billion in less than a decade.

“Pop culture and the entertainment landscape in Asia have their own dynamic and are very different from in the West. When you look at how K-pop has impacted the world, it’s not hard to realize it’s a powerful force. While we have seen that western celebrities such as Justin Bieber, Snoop Dogg and Travis Scott are well-received in the metaverse, things are still relatively behind in the East”

Adding,

“We see huge potential for artists in Asia to embrace this new virtual way of fan engagement, and we are glad that our investors share our vision of bringing the Asian entertainment industry into the Web3 world.”

Gemie is Leveraging the Borderless Property of the Blockchain

Gemie leverages the power of the blockchain to envision a limitless metaverse where there are no geographical limitations that is an extension of the physical world. By creating this virtual galaxy, fans can easily blend their love and support both in the physical and virtual world, expanding the ways they interact with their favorite celebrities. 

For their involvement, active fans are granted exclusive perks offered through Non-Fungible Tokens (NFTs). Experiences like celebrity meet-ups in the metaverse or even tickets to their live performances. Gemie is reimagining the value of celebrity merchandise by allowing fans to support their favorite celebrities by purchasing limited edition collectibles through their platform.

While there is better interaction between fans and top-tier celebrities, entertainment franchises, and movie production houses, the global nature of the underlying blockchain from which Gemie is building eliminates geographical boundaries. Because interaction is digital without hindrances, Gemie presents stakeholders in the entertainment industry with new opportunities to expand their fan base. 

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