Condense, the Metaverse infrastructure company, has raised $4.5 million in a round led by LocalGlobe, 7percent Ventures, and Deeptech Labs.
It has been reported that the technology employed by Condense LIVE streams 3D videos into the Metaverse via games and existing platforms. The firm states that such technology has the potential to create an entirely new world of content creation and entertainment engagement with real-time connections.
However, Condense had participation from angel investors and music industry insiders such as English footballer and platinum-selling artist Tom Blomfield (Mozo) and music manager Grace Ladoja. Funding from this round will go toward relationship building with content creators, artists, labels and existing Metaverse platforms.
The report said that the underlying technology of Condense utilizes, “cutting-edge computer vision, machine learning and proprietary streaming infrastructure to capture and embed LIVE 3D video (Video 3.0).” This LIVE video experience is then streamed into metaverse games, mobile applications or platforms created with Unity or Unreal Engine.
The 3D aspect of these LIVE streamed events will allow a unique and dynamic perspective for every player simulating a physical LIVE event. Such technology adds a level of individualism to Metaverse events, moreover, to simply watching a standard event LIVE stream.
Thus, this development comes as the music industry continues its push for engagement with Web3 technologies and digital interactions.