Utherverse seeks $20 mil investment

Press release: Utherverse® Digital, the Leader in 3D Virtual World Web™ Development, Seeks First-Ever Venture Funding at Banff Venture Forum

Largest Player in Software for 3D Internet Communities Sets Sights On Raising $20 Million for Broad Range of Marketing/Sponsorship Initiatives

Vancouver, BC — Virtual world developer Utherverse Digital Inc. today announced it is seeking its first-ever venture capital funding as a presenter at the exclusive Banff Venture Forum 2010, September 23-24 in Banff, Alberta. As one of only 13 IT companies invited to present at the prestigious event, Utherverse intends to pursue the necessary financial resources to take it even further beyond its status as the largest global provider of technology for 3D online experiences and communities.

Since the launch of its Virtual World Web in September 2009, Utherverse has provided the means for over 37,000 virtual worlds to be created online. Together, the independently developed, interconnected virtual environments form the “Internet in 3D”—a vast network of worlds that embraces social communities, entertainment, commerce, news and events.

A "Salon de Massage" is one of many adult-themed destinations on the Virtual World Web platform. (Image courtesy Utherverse.)

“Utherverse software has matured to the point where we believe we can have an overwhelming impact on the future of the ‘flat Web’”, said Brian Shuster, Chief Executive Officer of Utherverse Digital Inc. “The only thing missing is a critical mass of virtual worlds that will allow the 3D Web to overtake its 2D predecessor. We believe our appearance at Banff Venture Forum 2010 will take us a long way to gathering what we need to grow very big, very fast.”

Brian Shuster, CEO of Utherverse Digital Inc.

The 2010 Banff Venture Forum, now in its 12th year, is considered to be Canada’s premier company financing event. Staged at the Fairmont Banff Springs Hotel, the two-day showcase brings together a limited number of the hottest early-stage high-tech companies from across North America, with top executives from more than 40 venture capital and private equity firms.

Utherverse Digital intends to expand its position in the 3D category by raising the largest amount ever by a virtual 3D technology company–$20 million. It plans to use the investment funds raised at Banff to execute a wide range of marketing activities including advertising, viral marketing campaigns and event sponsorships. The company sees significant potential for its technology in an ever-broadening range of applications.

“3D is one of the most promising concepts in lifestyle technology today. Like the revolutions taking place in 3D movies, 3D television, sports events and more, the world is moving to a 3D technology orientation,” noted Shuster. “We believe Utherverse is ideally positioned to deliver the online component to this global shift. Our software enables anyone to convert a 2D website to 3D, or create and deploy an imaginative 3D world, in the span of days instead of months or years. What’s more, our universal 3D Web browser allows users to move from one 3D world to another with a click of the mouse.”

To learn more about Banff Venture Forum 2010, visit www.banffventureforum.com.

About Utherverse.com

Utherverse is the Internet’s most sophisticated and advanced 3D virtual reality universe. The company was formed in 2002 to create a virtual-world web of massive multiplayer online communities. Among Utherverse’s offerings are the Virtual World Web -TheVWW.com – which provides simple software that enables anyone to create their own Virtual World, and Virtual-Vancouver.com, a music-focused online community. For more information, please see http://www.utherverse.com.

Press Release

This is a press release, contributed by an outside company or organization and does not necessarily reflect the views or opinions of anybody at this publication. Read about how to write a press release here. Follow us on Twitter at twitter.com/HypergridBiz.

  • Ener Hax

    wow, Linden Lab is contracting and these guys are expanding! well good luck to my fellow Canadians! =)

  • danny-bottom

    At 1st I thought is was pretty cool- had free basic membership. What you get for free is good. Then got a payed VIP membership. You get all these extra commands & functions that only partly work, many VIP members on forum complaining about unfinished features, customer service very poor sweep you under the carpet. This game is about luring you in to filling Brian Shuster's pockets with gold. Nothing more. My opinion they are understaffed (need paid programmers) they have many vol. staff to help members with questions (smoke & mirrors). Always adding new parts to game without finishing last project-all these loose ends. 2nd -documentation very poor very little provided by utherverse most information provided by users in forums -have a couple extra months of time on hand to try & find out how to use a tool, for example the Prop editor can find little snippets of info but not a detailed manual, at least not in the Utherverse domain. That's how I got here, looking for external information, cause they just don't care to provide it there. I believe it's GREED driven…the longer it takes you to find what you need to play the game -your spending your money, filling their pockets with gold. Very unhappy with VIP when it runs out -I will not renew- I will play the basic (FREE) membership game. Now Brian is working on a new version of the game when the old version isn't even finished (more loose ends) . It's sad he takes this approach…this could have been something GREAT, instead just another Half AS_ED game.

  • Regal1

    I found it to be a great experience and have been in the game for about four years now and witnessed it's growth and changes.
    Like any business it has had growing pains and as a pioneer in it's product has had to learn as it goes. Many of those that complain are those that do not understand technology or it's capabilities. I have never read where Utherverse was a "non profit" business, lol
    As for info, all one has to do is ask… in forums .. in a particular community .. or even a volunteer. There are true experts in using the prop editor for all types of items. Sadly, some guard their "secrets" in order to try and keep an edge on competition .. such is business life.
    Socially it is the best media for adults, I honestly love the zero tolerance for underage people in it's adult areas. It is a safe haven for adults. (although age does not equal emotional maturity in some)
    All in all, I enjoy meeting and talking to people around the world .. there or times I hear in the game of world events even before they reach the news media … natural disasters social uprisings and all can be seen and discussed in "real time" with people actually there! For me .. this is a great thing.
    Plus, those little cartoon avatars have made a difference in the world, with charities, open discussions and getting people to actually look at who they are in the real world. It's fun but those cartoons are real people.