US Securities and Exchange Commission (SEC) continues to increase its pressure on cryptocurrencies.
The last move of SEEC, which has taken many steps in this regard, is the third largest capital fund of the USA. Republic Launched in March 2021 by metaverse against the backdrop.
As Yahoo Finance reports, the SEC has launched a $75 million metaverse real estate fund launched in March 2021. Republic Realm Metaversecanceled it.
The fund, which was first released for accredited investors in March 2021, was made available to all users in December 2021.
Republic’s metaverse fund primarily Sandbox (SAND), Axie Infinity (AXS), and Decentraland (MANA) focused on buying virtual land in NFT games such as
Within the scope of the Metaverse fund, it was planned to invest in virtual shopping centers, event space and other areas after the land purchase.
With the rental income obtained from these areas, it was aimed to provide continuous income to the investors.
Announcing that the Republic Realm Metaverse fund was closed after the notification from the SEC, Republic said in its statement:
“Based on the feedback we have received from the SEC, as well as other regulatory events that have occurred since we started this process, we no longer see a sustainable path for this proposal.
Unfortunately this means that the offer will be canceled from now on.
We are trying to make the necessary adjustments to bring a similar offer to market in the future.”
Like SAND, MANA and AXS after the news altcoin There was no significant change in prices.
*Not investment advice.
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