BlocksInform
Against stiff headwinds of distrust, one project is building a town square for gaming NFTs – with a bevy of big-name backers.
, the platform for game-related non-fungible tokens (NFT), has raised $35 million in a seed round led by Paradigm and Multicoin Capital. Other investors include andreessen horowitz (a16z), solana labs, animoca brands, COINBASE ventures and terraform labs managing director do kwon, etc.
The platform, launched in December by Twitch co-founder Justin Kan, functions as a marketplace for players to buy Solana-based NFTs directly from game companies as well as a secondary marketplace for peer-to-peer trading.
Kan told coindesk that since the launch of the platform, each game to associate with the new fractal "launchpad" has exhausted its drop of NFT, with a collection reaching 33,000 unique shoppers. This is the biggest increase to the platform, which sold two million dollars of its NFT at launch.
'There's always been lots of hype around NFT. What investors are now seeing is that it is actually durable,' kan said coindesk in an interview. 'Even if it's a bear market, even if prices can drop, the idea that people want to collect digital assets on the Internet will remain.”
Read more: Money Continues to Pour Into GameFi, but Will Developers Follow?
"Read more: money continues to flow into gamefi.
Notable investments in March alone included a $25 million raise for Terra-based gaming platform C2X, a $4.8 million raise for blockchain gaming startup Battlebound and a $6 million raise for the Polygon-based Crypto Raiders NFT game.
Even more novel play-to-earn titles like the Solana-based “move-to-earn” app STEPN are beginning to find their feet in the market.
