ABO Digital commits to investing $25 million in Spheroid as a strategic finance partner.
The SPH utility token powers all of the operations in the Spheroid ecosystem, which is an AR/XR platform.
This funding commitment from ABO Digital represents an important step forward for Spheroid, which plans to use the money to keep developing tools and features within Spheroid Universe, including Spheroid Script (a cross-platform programming language developed to speed up and reduce the cost of developing AR/XR applications) and Spheroid Demiurge IDE (a cloud-based integrated development environment for programmers and designers who work together on AR/XR projects), among other things.
The infrastructure within Spheroid Universe will be able to grow and flourish because of ABO Digital's commitment, according to Andrea De Marco, managing director of Spheroid Universe.
Amine Nedjai, Director of ABO Digital, expressed excitement about working with the Spheroid team in the future. "Spheroid is providing crucial tools for artists in the AR/XR area, which we anticipate will see greater demand over time," he said.