HomeNewsOliveX to raise AUD$8m to Fuel Fitness Metaverse

OliveX to raise AUD$8m to Fuel Fitness Metaverse

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OliveX has announced that they have received a binding commitment to place 8 million new fully paid ordinary shares in OliveX (Placement Shares) at an issue price of AUD$1.00 per Placement Share to raise AUD$8 million before costs (Share Placement) with support from key strategic and institutional investors including Animoca Brands, One Football and Bombora Investment Management.

The funds raised will be used to fuel the development of OliveX’s fitness metaverse which includes the Dustland Runner Game. The funds will also be dedicated to the progress of other OliveX fitness metaverse initiatives.

“I’m extremely honored that this recent capital raise has received such strong support from both existing and new strategic investors. The work Yat and the Animoca Brands team have been doing in the blockchain gaming space has been revolutionary and we are extremely proud to be working with one of the true pioneers in the space in order to build a truly open metaverse.

 

The support received from both One Football and Bombora Investment Management cannot be understated. We are extremely privileged to be working with and have the support of such high quality investors”

Keith Rumjahn, founder and CEO of OliveX

Dustland Runner is the first-ever fitness metaverse game with blockchain capabilities. The game uses the proven ‘run-for-reward’ game engine from the successful Zombies, Run!

OliveX is a digital health and fitness company with a unique focus on awesome user experiences through fitness and gamification, augmented reality, and play-to-earn experiences.

What are your thoughts on OliveX’s Fitness metaverse? Share in the comments. The DOSE token, created by OliveX as a cross-platform token for the fitness metaverse and the utility token for run-to-win games within the OliveX ecosystem including Dustland Runner. DOSE is an ERC-20-compatible fungible token and is an acronym for the chemicals released when getting fit and working out:  Dopamine, Oxytocin, Serotonin and Endorphin. Dustland Runner is the first-ever blockchain fitness game where players physical output is rewarded in the virtual world with digital items.

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