The Republic Metaverse Fund, which raised $75 million, has been shut down by the SEC

ChainCatcher news, according to Yahoo Finance, the U.S. Securities and Exchange Commission (SEC) has officially shut down the Republic Realm metaverse real estate fund launched by the investment crowdfunding platform Republic in March 2021. Republic stated that the fund has been canceled based on feedback received from the SEC and other recent regulatory events.

It is reported that Republic Realm was initially available only to a small number of accredited investors, raising the maximum subscription amount of $75 million in a very short time. The fund focused on purchasing NFT virtual real estate in platforms like Sandbox, Axie Infinity, and Decentraland, planning to hold them long-term, which could generate "rental income" similar to real estate and provide ongoing revenue for the fund. (Source link)