Condense Bags $4,5 Million Seed Funding to Host Live Performances in Metaverse

Condense Bags $4,5 Million Seed Funding to Host Live Performances in Metaverse

Live streams of real-life entertainment events will become a part of the metaverse with the help of Condense technology.

Condense, a Brisbon-based metaverse infrastructure company established in 2019, has gathered $4,5 million in seed funding for the development of their 3D live streaming technology

The funding has been led by LocalGlobe, 7percent ventures, Deeptech Labs, and some angel investors. The company is planning to use these funds to boost its relationship with artists, content creators, labels, and metaverse platforms.

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Condense allows streaming real-life events, such as concerts or sporting events, straight to the metaverse in 3D video format, without using a virtual reality headset

The company applies its “cutting-edge computer vision technology, machine learning and proprietary streaming technology” that allows streaming 3D videos to metaverse games or platforms created with Unity or Unreal engine

Essentially, this innovative technology allows users to experience events in a similar manner to that of the real world. As technology is using three-dimensional video every user's experience is different. It means that each user can view the event from different angles as they would in real-life live events

The LocalGlobe partner, Ziv Reichert took to Twitter to share his excitement about LocalGlobe’s decision to provide funding for Condense. Reichert noted that it is a perfect time to incorporate entertainment events into the metaverse

He can be just about right, as the live concerts have already made their way to video games. In 2019, Fortnite hosted its first in-game concert with DJ Marshmello. On top of that, due to the great success of the first performances, artists like Travis Scott and Ariana Grande have also performed on Fortnite. Roblox and Minecraft have also hosted similar events

It seems that this is the beginning of a technology that will shake up the world of live streams and performances, in general. 

This year’s MTV Video Music Awards will include a nomination for “Best Metaverse Performance”. Including nominees like Ariana Grande, BTS, BLACKPINK, Charlie XCX, Justin Bieber, and Twenty-One Pilots. 

Aaron S. - Expert Reviewer

by Aaron S. - Expert Reviewer, BitDegree


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