Peer secures $10.5 million funding for metaverse engine, introduces 3D personal planets

Peer Global Inc announced today that it has raised $10.5 million in its latest round of funding for its metaverse game engine, which it plans to use to build out its team and to accelerate AI product development. In addition to the funding, the company also launched its personal planets feature — an in-engine feature that allows users to create their own 3D social hubs. According to founder Tony Tran, this new form of social engagement is intended to be a tonic to more addictive, static forms of social media.

Peer’s total investment numbers sit at $65.5 million, all from angel investors. The Family Office of Tommy Mai is the sole investor in this round of funding. The company will build out its AI features, which make up the backbone of its persistent world. AI is also one of the tools that the company offers for developers who wish to build their experiences on Peer. Within the game’s engine, all games and experiences would be connected to each other.

Mai said in a statement, “Websites, social networks, and digital brand experiences today are flat. People have short attention spans. AI will push everything into spatial experiences, and Peer is leading the way. We’re really excited about the potential for this technology and think Tony and team are the ones to get this right.”