Rec Room gaming platform raises $145M

Social gaming platform Rec Room has raised $145 million at a $3.5 billion valuation.

The funding round comes just nine months after the company raised $100 million at a $1.25 billion valuation, and it’s another sign of the prospects for user-generated content and the game investment boom.

Rec Room is positioning itself as a contender for the metaverse, the universe of virtual worlds that are all interconnected, like in novels such as Snow Crash and Ready Player One.

Users-as-creators is a big theme in the latest gaming boom, which has seen user-generated content platform Roblox go public and Overwolf raise $127.5 million in two rounds this year for PC gaming mods and helper apps.

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