BlockDream Ventures, the investment arm of crypto exchanges OKEx, invests in NFT Play-to-Earn project Defina Finance.
Decentralized Gaming Is Hot Now
Play-to-Earn gaming has gained tremendous uptake in the past two years. Many blockchain based play-to-earn gaming startups have garnered significant venture capital investment in the recent past.
In May, Animoca Brands, a Hong Kong-based blockchain gaming company, raised US$89 million at US$1 billion valuation, making it the newest blockchain unicorn in Asia. In May, another blockchain gaming firm Sky Mavis raised US$7.5 million in Series A funding led by Libertus Capital. Sky Mavis is the developer of one of the world’s most popular blockchain games, Axie Infinity.
Earlier this month, gaming NFT marketplace Ulti Arena raised over US$4 million from prominent investors, including Luna Capital, Panda Capital, and Lucid Blue Ventures.
In fact, this segment is so hot that Huobi Eco Chain (HECO) recently launched a new accelerator program – HECO Gaming Accelerator – dedicated to decentralized gaming. It will offer emerging game developers with all the tools and resources they need to create and market their decentralized games.
Defina Finance To Bring GameFi Model To Millions Of Players
Defina Finance is an online blockchain game that utilizes DeFi and NFTs for players to monetize through playing and training.
Defina is one of the latest crypto projects that attract investors’ attention in the blockchain-based online gaming space known as GameFi. Considered as one of the hottest new trends in the crypto industry, GameFi operates on a “play-to-earn” model, fundamentally different from the traditional “Pay-to-win” model.
The new GameFi model has provided financial incentives to players who could earn a decent income by playing the games, especially when Covid hits the job market and economy.
“Defina’s vision is to bring blockchain to millions of players, allowing them to explore a new form of gaming through blockchain technology,” Defina’s spokesperson Charles Chang said.
“Defina has an outstanding tokenomics, players could earn money through various ways in game as well as consuming them to enjoy the game,” he added.
Defina’s beta games are expected to be released on late September.
BlockDream Ventures Supports Defina Finance
Blockdream Ventures is an investment arm of cryptocurrency exchange OKEx. It is a fund focused on exploring “high-quality projects with great potential”.
The exact amount of investment in Defina Finance has not been disclosed. However, the association of BlockDream Ventures signifies the importance of the project.