Play-to-earn games are blowing up across the crypto world, and it was amidst this excitement that P2E Metaverse company Affyn raised $20 million over several rounds.
The Singapore-based company’s recent funding came after its recent public listing and a successful Presale and Launchpad round, as well as oversubscribed Private and Strategic rounds.
The P2E games are revolutionizing the gaming industry with their new, highly engaging format and providing opportunities for players to earn rewards that have garnered huge appeal. This new concept of gaming started flourishing during the COVID-19 pandemic resulting in the P2E industry having an increase of $2 billion in revenue in the Q3 of 2021.
But sustainability is still an issue, and Affyn is trying to solve just that. Affyn is a blockchain-powered Metaverse project with a free P2E mobile game that uses geolocation technology, augmented reality mechanics, and blockchain technology such as NFTs to create an ecosystem where the virtual and real-world converge.
The company will develop a Metaverse called “NEXUS” in which users can play and participate in activities based on their geolocation. Players in the NEXUS Metaverse can capture and train in-game NFTs called “Buddies” that are used to participate in quests, player-versus-player battles, and raids.
Players will own these “Buddies” NFTs which, in the future, can be transferred to other games while retaining their traits.
The Affyn team has spent over a year developing a closed-loop ecosystem with sustainability at the core of its game economy. In contrast to many projects in the Play-to-Earn category, Affyn is building a mobile Play-to-Earn model that is sustainable. For that, Affyn is introducing multiple revenue streams, including an advertising revenue model and business-to-business collaboration.
The company is currently planning to bolster its team strength and is hiring across game development and engineering functions to help with its project development. A trailer video for the NEXUS Metaverse is also set to be released this month.
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2022-02-02 12:28:08
