XRSPACE, a Metaverse service provider, recently secured around $25 million in a funding round to expand its platform’s immersive content offerings and satisfy the growing demand for Metaverse services and content. The funding round was led by XRSPACE’s trusted partner, the Foxconn Technology Group, and Taiwan’s National Development Fund.
The funding will allow XRSPACE to accelerate research and development into live events and social experiences on their platform. Additionally, it will enable the inclusion of features such as face tracking, motion tracking, 5G integration, RT3D live streaming, and AI-powered social content.
One of XRSPACE’s primary goals is to drive the next generation of consumer engagement in the Metaverse. To achieve this, the company is collaborating with international brands from Taiwan, China, Japan, and the US.
XRSPACE has had numerous successful partnerships, including one with Meta Taiwan and Taiwan’s Ministry of Culture, where they launched a Metaverse immersive experience based on the Beigang Chaotian Temple in Taiwan. This digital space attracted millions of international visitors. The company has also created Metaverse digital twins for Taiwan’s National Palace Museum and JuMing Museum.
XRSPACE’s entertainment-focused Metaverse R&D division, PartyOn, is hosting live social experiences that attract roughly 700,000 users across over 50,000 events. The company recently partnered with Nana Music, a leading Japanese social music platform, to create immersive events on the Metaverse service. The partnership gives Nana Music’s ten million-strong user base an avenue to enjoy music events in immersive spaces with custom avatars. Additionally, in November 2022, XRSPACE partnered with the Taipei Pop Music Center to host a live and interactive virtual concert on the Metaverse platform.
In February, Foxconn inked a Memorandum of Understanding (MOU) with XRSPACE to boost the Metaverse platform and its integrated technology stacks. The MOU agreement gives XRSPACE greater access to resources required for building a Metaverse infrastructure, allowing the firm to expand and optimize its digital products.
The partnerships and funding secured by XRSPACE highlight the growing demand for Metaverse services and content. By expanding their platform’s immersive content offerings and collaborating with international brands, XRSPACE is poised to accelerate Taiwan’s growth in the Metaverse industry, driving the next generation of consumer engagement in this exciting new field.