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Daily Markup #509: 500 Global backs metaverse builder VTF; EST co-produces films for Asia; Gilmour Space develops 3D-printed liquid rocket engine

Ching Yee Ho



Credit: TechNode Global

Expanding brands in the Metaverse

  • Looking for a way to connect more deeply with your community in the Metaverse? 500-backed metaverse builder Virtualtech Frontier (VTF) is here to help you do just that!
  • Founded just last year by Jason Low, Kendrick Tan, Othniel Naga, and Eugene Ng, the company has already created virtual experiences for more than 100,000 users and well-known brands including Google, Visa, PETRONAS, and Mercedes-Benz. Now, VTF wants to create a high-utility metaverse platform.
  • The fresh funds from 500 Global will be used to expand the team to serve VTF’s waitlist of customers.
  • Jason, who is also the CEO said, “We are at the very beginnings of this new paradigm of experiencing the Internet in such different ways, that it can be challenging for brands to imagine how they can participate. This is where we, VTF, come in to bridge the gap, to help create highly engaged communities that add value to both brands and consumers.”
  • Amanda Cham, Associate Director at 500 Southeast Asia, shared, “When we discover a company seeking to take a new technology mainstream, we want to support its growth. 500 Global has invested in Web3 companies like Animoca Brands in 2014, Solana Labs in 2018, and Axie Infinity creator Sky Mavis in 2019. We believe that VTF is building next-generation infrastructure for the Internet, and it’s companies like these that can change how we experience the web.”
  • Welcome to the 500 family!
  • Read the full announcement on TechNode Global.

Credit: Sam McGhee on Unsplash

Add this to your watchlist

  • More films for Asia are coming our way! 500-backed EST Studios, a finance, production, and sales company launched by 88Rising co-founder Jaeson Ma and former Vice Media executive Eric Tu, announced a co-production partnership with Taiwan-based Studio76. The two companies will be working together on 6 films across multiple genres.
  • Also happening this week is EST’s Cannes Market debut! Its recent titles include ‘Maika’, which premiered in the 2022 Sundance Film Festival kids section, and 2022 Sundance official selection ‘Every Day in Kaimuki’.
  • EST is also producing a documentary that will premiere at the upcoming Tribeca Film Festival.
  • Read the full article on Variety.

Credit: Gilmour Space

A new horizon awaits

  • A 3D-printed liquid rocket engine is set to take satellites into space! 500-backed rocket startup Gilmour Space said this newly-developed engine, dubbed Phoenix, will power the third stage of its Eris rocket to orbit.
  • Eris is Gilmour’s much-awaited three-stage rocket, which is being developed to launch small satellites into low Earth orbits. Its maiden launch is targeted to be at the end of this year.
  • Gilmour Space Founder & CEO Adam Gilmour said while liquid rocket engines are commonly used, they are notoriously complex and expensive to develop.
  • “The first and second stages of Eris will be powered by Sirius, our large hybrid rocket engine which is undergoing qualification tests,” he explained, adding that the unique engine combination will help the company achieve an affordable and reliable option for accessing space.
  • Read the full announcement on Gizmodo.

Ching Yee Ho