Rec Room Social gaming platform raises $100M from funding

Rec Room Social gaming platform raises $100M from funding

Social gaming platform Rec Room raises $100 million

Rec Room is a virtual reality, online video game, and game creation system developed and published by Rec Room Inc. It can be played on Microsoft Windows, PlayStation 4/5, Oculus Quest 1/2, iOS 12.0 and up, Xbox One, and Xbox Series S/X. It was released for Microsoft Windows in June 2016, PlayStation 4 in November 2017. Oculus Quest in May 2019, iOS in November 2019, and Xbox in December 2020

Rec Room consists of separate built-in multiplayer games, including first-person shooters. And cooperative action role-playing games, a charades-like game, and six sports games. Rec Room also provides in-game tools for user-generated content, which led to the creation of millions of user-generated experiences. Seattle-based development studio Rec Room Inc (formerly Against Gravity Corp) was co-founded in April 2016 by Nick Fajt, Cameron Brown, Dan Kroymann, Bilal Orhan, Josh Wehrly, and John Bevis.

Rec Room Raises $100 Million at a Valuation of $1.25 Billion.

Social gaming platform Rec Room has raised $100 million at a $1.25 billion valuation. The funding is another vote of confidence for user-generated content. And so it has another contender for the metaverse, the universe of virtual worlds that are all interconnected, like in novels such as Snow Crash and Ready Player On.

Popularity continues to rise for Rec Room, the free-to-play social gaming platform that originally got its start in PC VR. Since then it’s launched on every major VR platform, including Quest, Quest 2, and PSVR, and is available outside of VR on PC, PS4, mobile, and Xbox. The number of potential users is pretty astronomical compared to any other social VR application—even if a lot of those users aren’t even in VR.

Rec Room could be a contender to create the metaverse.

Rec Room is offered on iOS, Xbox, PlayStation, Oculus, and Steam. The firm has beneath one hundred personnel. The firm plans to employ a lot of individuals. Rec Room could be a contender to create the metaverse. Right now, about 40 individuals can be in space. But more than time, that could modify and get more metaverse-like. It looks like an interesting challenge as the firm moves forward in AR and VR and Rec Room can play a big role in defining what it looks like. 

Rec Room has more than 5 million rooms to discover, and there are more than two million players who have constructed content in Rec Room. Fajt mentioned the firm focused on creating straightforward-to-use inventive tools. One factor that has worked is letting customers charge other customers in-game currency in promoting their personal things. And Rec Room also began a subscription service as a straightforward way for customers to get in-game currency.

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