Republic, the 3rd largest crowdfunding platform in the USA, closed its $ 75 million metaverse fund due to the recommendations of the US Securities and Exchange Commission (SEC) and the ongoing recession in the cryptocurrency market.
In the news published by Yahoo Finance on February 26, Republic’s 75 million with dollar assets It will close the Metaverse Realm Real Estate Fund. he announced. On Metaverse platforms virtual real estate investments the reason for the closure of the fund recession in cryptocurrency markets And SEC’s recommendations was stated.
The fund will only be funded in March 2021. qualified made available to investors and December 2021 on 75 million dollar an additional arm through individual investors It is also stated that it is available for purchase. According to Republic’s statements, the decision to close was made by the fund. only to individual investors the 75 million dollar portion offered covers.
The company made a statement on the subject, received from the SEC. your feedback as well as since the fund was launched. evolving regulatory frameworks for the progress of the fund there is no way He said they didn’t foresee it. Moreover a similar offer to re-launch will make the necessary arrangements also added.
Sandbox (SAND), Axie Infinity (AXS) And Decentraland (MANA) By purchasing virtual land on Metaverse platforms such as lease to companies the fund continuing its strategy 2021 March-December between 145% return gained its popularity.