Spatial

Spatial enables brands and creators to build their metaverses and 3D spaces, accessible via web, mobile, or VR, without any coding requirements. The company pivoted its strategy to social gaming experiences in November 2023, as it announced the launch of its first season of in-house-created web-based games on web, mobile, and VR platforms. The new games on Spatial's platform cater to a variety of genres, including action, racing, and adventure. Other use cases included events, art exhibitions, lectures, watch parties and fashion shows. Additionally, the company allows users to publish their own games on the platform, with a 50% revenue-share model for developers. In March 2024, the company also announced the Wolves Den Game Jam contest, aimed at attracting game developers on the platform.

Spatial specifically supports games developed on the Unity game engine and seeks to leverage advancements in WebGL, WebAssembly, and GPUs to deliver high-quality gaming experiences directly in the browser. As of January 2024, the company offered an early prototype of a GenAI chatbot for developers to understand more on building experiences with its Creator Toolkit Unity SDK.

The company initially focused on enterprise collaboration although it pivoted to social spaces, NFTs, and galleries in December 2021, prior to its move to social gaming experiences.

Spatial is free to use, and also offers a subscription-based package priced at USD 25 per month to host more curated and controlled experiences. Additionally, the company offers the sale of digital coins (used to purchase items and avatar upgrades in-game) with prices ranging from USD 5-50.

Key customers and partnerships

In March 2024, Spatial developed the “LG Air Solution Village” metaverse platform for LG Electronics, aimed at heating, ventilation, and air conditioning (HVAC) professionals.

In January 2023, the company partnered with McDonald’s to develop VR experiences for the company in celebration of the Lunar New Year.

Other collaborations with notable enterprises to launch branded virtual worlds included those with BMW, Vogue, Walmart, Jack Daniels, Hugo Boss, Tommy Hilfiger and GameStop.

Funding and financials

In December 2021, Spatial raised USD 25 million in funding from investors including Pine Venture Partners, Maven Growth Partners, and Korea Investment Partners. The funds were raised to accelerate Spatial’s vision to become a 3D hub that connects NFT creators with their communities and collectors.