Tech startup 8XR is tapping into the metaverse craze with the launch of its graphic web engine and a pre-seed investment.
London-based 8XR says its engine is designed for web pages for VR/AR devices. The company has secured $820,000 (£670,000) in its pre-seed round to enable it to bring its products to the UK market.
8XR is the creation of Mark Korshakov (Director) and Slava Sabinin (CTO). Both have had a similar career path. They previously worked at regtech Clausematch in London and at tech services firm Return on Intelligence in Saint Petersburg.
Korshakov tells eWeek UK: “The biggest problems are the lack of content and the high costs of its creation. That didn’t give a clear perspective on real use cases and scaling opportunities of the technology. We address this problem by introducing a ready-to-go metaverse graphic engine, making AR and VR content creation accessible to everyone.”
With the metaverse offering plenty of opportunities for the big names and new faces, the startup is targeting enterprises and marketing agencies with tools for the creation of their projects.
It is kind of a big deal. Earlier this week, the ‘Metaverse Standards Forum’ was unveiled to promote interoperability and collaboration during the development of the metaverse. Founding members include NVIDIA, Meta, Microsoft, Adobe, Epic Games and Sony.
8XR will have its own ambitions, of course. For example, its 8XR Builder tool is a way to create a 3D XR space. Users open a link and can start to build. The tech entity supports 3D models import, animation, dynamic lightning, shaders, user interactivity zones and spatial audio. With the non-experts on its mind, users don’t need to know how to code and a physics engine is also provided.
- Need background info? – Read ‘What Are the Differences between Web3 and the Metaverse?’ here
8XR also points out that it’s a cross-chain graphic engine. This means customers can mint spaces on any integrated chain from its list. Ethereum, Polygon and Solana are ready, while Flow and Binance are in progress.
It may not appeal to all age groups, but these Web3 assets that are minted can be used to decorate rooms. Not the ones in real life, but for the world of VR. 8XR offers a private virtual XR club for specific NFT collection holders and is seeking to profit from the emerging trend for digital fashion.
In terms of more details, 8XR provides analytics (e.g., engagement time), on-premise deployment (e.g., AWS/Azure cloud infrastructure), and white labelling and branding.
The concept of a startup targeting the metaverse or Web3 will not be a surprise, as people will quite rightly look for new adventures and success in the vast tech sector.
For instance, on a different note and in a scoop last month, Crypto House Capital powered up with a real estate approach to investing.
The London-based tech company offers “risk-adjusted returns” via the development, acquisition, management, leasing and sale of virtual property on blockchain-based metaverses in the form of NFTs.