Gemini Raises $400 Million to Build a Metaverse Outside Facebook's Walled Garden

American crypto giant Gemini, the cryptocurrency platform founded and run by the Winklevoss twins, has secured significant funding to challenge the metaverse status quo. Gemini announced that it had closed a $400-million equity growth funding round at a valuation of $7.1 billion on Thursday, marking the first time the firm had sought outside capital. This substantial investment will fuel Gemini's ambitions to create a metaverse experience that is independent of Meta (Facebook's) control.

The Bitcoin BTC/USD billionaire brothers, who made a fortune off of Facebook FB, have decided to finally leverage external investment to expand their cryptocurrency ecosystem. The funding round was led by [Insert Lead Investor Name Here]. The Winklevoss twins envision a vibrant and decentralized metaverse where users have greater control and ownership of their digital assets and experiences.

Gemini will use part of the capital from its $400 million funding round to build a “Gemini experience in different metaverse environments,” indicating a multi-faceted approach to creating a presence across various virtual worlds. This strategic move positions Gemini to compete directly with Facebook's metaverse ambitions, offering a potentially more open and user-centric alternative.