In a recent fundraising round Treeverse, a browser-based metaverse gaming platform raised $25 million from Animoca Brands, Stani Kulechove, IdeoCo Labs, and Skyvision Capital,

With Treeverse, players can deploy NFTs in a world that is open and interactive, offering players a Runescape-style MMORPG. In recent years, metaverse gaming has been gaining steam thanks to games like Axie Infinity, a PVP game in which animated axolotl’s battle with each other. Last year, Decentraland also contributed to the current round of “metaverse” gaming trends.

Blockchain technology has made payments more streamlined. Using NFTs, in-game assets are monetized without risk of forgery due to decentralized networks and cryptocurrencies. Also, this type of game has gained an interesting element with the rise of NFT, which allows users to verify the ownership of irreplaceable assets.

While blockchain gaming has long been eying investor and user attention, but it wasn’t until later that these types of games took off.

This platform - founded by NFT investors Loopify and Aizea - closed a funding round of 25 million dollars recently, showing the growing popularity of MMORPG-style metaverse games that create virtual worlds for NFTs.

Founders’ Private Plot, a collection of 10,420 privately owned plots, was also released on August 1st, which was sold out in an hour for $520 each. These parcels of land that have exceeded $20 million are currently trading at $7,000 in the secondary volume.

“Treeverse” is an online browser-based 2-D pixel art metaverse that is founded by an NFT investor called Loopify. Players can buy land plots for a fee of $520 each, where they can teleport to their plot of land and invite others to visit it.

The platform helps the users to build their own customized NFT (Non-fungible token) homes. It has created a lot of hype because it aims to replace other social media platforms, like Discord and Twitter.

Pavan A

CBW - External Analyst

INDIA