Abbey Road Red, the music tech incubator of London’s Abbey Road Studios, is now its sixth year of operation, and in that time has incubated 16 startups.
Between them, says Abbey Road Red, the businesses have raised over $70 million in funding, and have a collective post-money valuation of more than $330 million.
The latest startup to join the incubator has been named as Metaverse company XONE, which follows in the footsteps of companies such as Lifescore, a music platform co-founded by Siri co-founder Tom Gruber.
XONE is a tech startup operating between music and Web3, and merges social features, mobile-first AR technology, and blockchain mechanics to give iOS and Android users the ability to design and build 3D virtual spaces called ‘XONEs’.
XONE says that it aims to “onboard the next generation of creators, fans, and artists into the metaverse by creating a familiar and accessible social media interface for showcasing and sharing digital identity”.
XONE says that it is currently integrating its technology into Nreal’s consumer Augmented Reality glasses product line.
Nreal recently raised $60 million in funding from Chinese c-commerce giant Alibaba. Abbey Road Red says that Nreal will promote XONE and its featured app into its bricks and mortar store roll out, in the UK and beyond, later this year.
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