DeFi Land Raises $4.1M to Launch a Decentralized Finance Game on Solana
DeFi Land, a multi-chain agriculture simulation web game created to gamify decentralized finance, has just completed its Series A funding round, acquiring about $4.1 million from industry investors.
The project said in an official press release seen by Hedgewane that it intends to use the fresh capital to scale its platform and services on the Solana blockchain.
The team is working towards bringing DeFi to a mainstream audience by building a solution that aggregates across different protocols.
DeFi Land to Support NFTs
DeFi Land also noted that it would support native non-fungible tokens (NFTs) and introduce a play-to-earn model that involves achievements, tasks, battles, and other ways gamers can earn income. Existing NFTs on the network will “gain a new life” through the added utility.
Additionally, the project is on the verge of finalizing its integration with the Solana-based projects, Serum and Raydium, with a beta version and the NFT marketplace expected to go live in Q4 2021.
In the coming months, DeFi Land intends to integrate more protocols from Solana and other blockchain networks like Ethereum and Binance Smart Chain to its platform.
Furthermore, the project said it will invest a part of the funding to educate retail users on what they can expect in the gamified environment, enhancing its overall interface and making the onboarding of new entrants into the space more straightforward and appealing.
The $4.1 million funding round saw contributions from more than 40 institutional investors. Some of the notable names from the industry included Animoca Brands, Alameda, Jump Capital, NGC Ventures, Solana Foundation, Gate.io, MXC, Solar Eco Fund, Youbi Capital, and more.
Speaking in a comment, Brian Lee, the VC at Alameda said, “DeFi land is an incredible blend of the two most interesting things happening in crypto right now – gaming and defi. We believe that Defiland can be a real game-changer in getting casual gamers and the crypto retailers into DeFi”.
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