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Business EconomyPosted at: Jan 18 2022 12:51PM


vEmpire reports USD 18.5 mln profit in 2021

Mumbai, Jan 18 (UNI) At a time when major global firms are entering metaverse, vEmpire, one of the leading players in the space, said it has reported annualised profits of USD 18.5 million in 2021.
In a statement issued here, the firm said it has “reported a stellar performance in 2021 with annualized profits of over USD 18.5 million, led by gains in metaverse property, sale of NFTs and staking investments.”
The firm said that its staking strategies carried out across Ethereum, Decentraland, Sandbox, Axie Infinity, and Starlink, have led to unrealized profits surpassing USD 4 million in the final quarter of 2021 alone.
It may be noted that global giants like Google, Microsoft and Facebook, among others, have already announced their plans to build a metaverse world.
“Our users have contributed to staking tens of millions of dollars worth of Metaverse tokens on our platform, which has enabled us to build a decentralized Metaverse investment portfolio that represents the largest in the industry,” said Dom Ryder, founder of vEmpire.
He further said that for 2022, vEmpire’s objective will remain to spur growth and decentralization of metaverses.
As early adopters of the metaverse, vEmpire's NFT sales amounted to an additional USD 5 lakh and supplemented with newly acquired valuable investments, at roughly ninety percent below current market value.
vEmpire’s ETH pool allows access to individuals to their blue-chip NFT protocols like Bored Ape Yacht Club. Meanwhile, vEmpire’s staking options in metaverses like Decentraland, Sandbox, Starl, and others allow investors to partake in early allocation and investment of valuable plots within Metaverses.
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