Eikonikos, an open-world metaverse startup, raised $2 million in pre-seed funding by angel investors. Eikonikos envisions to create an open metaverse platform that is owned by Web3 followers, developers, and a growing community of players. Nearly a dozen investors, including blockchain players, took part in the round.

This fundraising round will help the company to extend its ecosystem, bringing more fans into the digital realm.

Eikonikos was founded with the goal of creating a joyful and exciting open metaverse. It could be used for training simulations, technical assistance, and immersive video chat. It could revolutionise education, gaming, and business. VR actually amplifies real-life experiences, all of that remains philosophically and technologically resolved by Eikonikos.

The company is currently in the process of issuing digital assets for investment as it gears up for commercial launch in May 2022, when its valuation will jump.

“We are very determined to create a platform that directly competes and rivals metaverse giants like Decentraland and Sandbox. We will be able to interact with other Metaverse economies in the future. Building a dedicated and crypto-native audience that likes our dope Non-Fungible Token (NFT) designs, intense gameplay,” said Vineeth, CMO and co-founder of Eikonikos.

Dubai’s Government introduced the Virtual Assets Law, and also announced the creation of a new regulator in charge of digital assets. The newly formed Virtual Assets Regulatory Authority (VARA) will oversee the industry in all emirate’s special development and free zones, except the Dubai International Financial Centre which has its own independent regulatory and judicial system.