Gaming NFT Marketplace Ulti Arena raises over US$4 million from retail investors and VC’s — Luna Capital, Panda Capital, Lucid Blue Ventures among others.
What is Ulti Arena?
Launched in 2021, Ulti Arena is an NFT marketplace for Gaming Artists, Developers, Freelancers and Professionals. The platform empowers artists by creating new opportunities for them to show their talent through a P2P ecosystem, democratizing the opportunities for success.
Ulti Arena also features its own native token, $ULTI, a BSC-based deflationary token that serves multiple functions within the platform. It is used mostly as a way to reward the Ulti Arena community through various methods, including revenue sharing of NFT sales, staking, discounts, and other rewards.
$ULTI token will be listed on PancakeSwap, a Binance Smart Chain Decentralized Exchange on September 12, 2021 at 1PM UTC. The token will also be listed on Cointiger and BitMart exchanges shortly after DEX listing.
Ulti Arena aims to revolutionize NFT gaming space with their following products:
- NFT Marketplace for game assets, where buyers and sellers can trade unique 2D/3D assets, music, sound, and UI/HUD elements,
- Proof-of-Gaming, a gaming client allowing players to earn $ULTI tokens when playing games such as DOTA2, LOL, CSGO, PUBG, Mobile Legends, and more,
- Crypto Trading Card game, built in collaboration with Remote Control Productions and Frag Games.
Gaming Is Now A US$300 Billion Market
Lockdown and restrictions imposed due to covid-19, and extra free time due to work from home, the gaming industry is growing at an unprecedented pace. According to a new report from Accenture, the full value of the gaming industry now exceeds $300 billion, more than the combined markets for movies and music. The report also revealed more than 400 million new gamers are expected by the end of 2023, bringing the total number of gamers to more than 3 billion globally.
While the industry offers immense opportunities, there are several barriers to entry, from legacy technologies limitations to steep operational costs, which is why more developers are turning to blockchain technology to bring decentralized gaming experiences directly to communities globally.
Blockchain To Completely Transform The Gaming world
“We believe that NFT’s will change the world of gaming as we know it,” states Ulti Arena CEO & Founder, Duke Vu. “Imagine every game in the future to be made on Blockchain – you can transfer any existing game items from one to another. Assets can be traceable and also unique – artists and developers will have new ways to monetize their creations and see how they’re used.”
Many organization are entering into the decentralized gaming space to explore this new space. In July, Huobi Eco Chain (HECO) launched a new accelerator program – HECO Gaming Accelerator – to expedite decentralized gaming. HECO Gaming Accelerator intends to provide emerging game developers with all the tools and resources they need to create and market their decentralized games.
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.