Ethlas, a blockchain-based game finance platform based in Singapore, raised US$7 million in seed funding to support its development and expansion plans. The platform enables gamers to use their skills and knowledge to earn rewards in the form of digital tokens. The tokens can then be used to purchase in-game items or exchanged for other currencies. The team plans to use the funds to improve the platform and expand its reach to more gamers.
The platform allows gamers to invest in game projects and earn rewards in the form of digital tokens. The seed funding will be used to develop the platform and expand its reach to more game developers and gamers.
Backers included Sequoia Capital India, Yield Guild Games Southeast Asia, Global Blockchain Innovative Capital, Venturra Capital, Play It Forward DAO, Blockchain Space, Genesis Fund, Deus Ex DAO, Hustle Fund, and executives from Grab, Coinbase, Switcheo and CoinMarketCap.
Ethlas – a portmanteau of “Ethereum” and “Atlas” – is a free-to-play, play-to-earn platform which helps the lay person win and encash cryptocurrency, by participating in casual games that everyone is familiar with.
As part of its product roadmap, Ethlas will mint its first series of non-fungible tokens (NFTs) called Komos. Modelled after the Komodo Dragons of Indonesia, the Komo NFTs will benefit both free-to-play gamers and crypto natives: Free-to-play gamers can use the five tiers of the Komo NFT to boost their gameplay and secure more $XGEM (Exchange Genesis Ethlas Medium), the in-game cryptocurrency in the Ethlas metaverse.
The Komo NFT series was available before end-February 2022. Ethlas is also working with game studios to launch their games on their platform through a revenue-sharing model.
Is it worth Investing?
The short answer is yes, it is worth investing in Ethlas, a Singapore-based game finance blockchain. The blockchain is built on the Ethereum network and utilizes the ERC-20 token standard.
The game-fi blockchain is a new and innovative way to fund game development and it has the potential to revolutionize the gaming industry. The game-fi blockchain is based on the Ethereum blockchain and it uses smart contracts to fund game development.
The advantage of the game-fi blockchain is that it is transparent and it is easy to track how the funds are being used. The game-fi blockchain is also decentralized, which means that there is no central authority that controls the funds. The game-fi blockchain has the potential to revolutionize the gaming industry by making it easier for developers to get funding for their projects.
Ethlas facilitates the use of blockchain technology to create a decentralized and trustless ecosystem for gaming. The Ethlas blockchain is designed to be scalable and efficient, with the ability to process thousands of transactions per second.
The Ethlas team is also working on developing a number of innovative features, such as cross-chain compatibility and atomic swaps. Ethlas represents an exciting opportunity for gamers and game developers alike.
The Ethlas blockchain is backed by a strong community of supporters. The Ethlas team is composed of experienced professionals in the gaming and blockchain industries. The team has a strong vision for the future of the gaming industry and is committed to building a platform.