Bengaluru-based online gaming startup: OWN Raises Funding via Better Capital, Polygon Studios to Launch NFT-Based Play To Earn Game
- ByStartupStory | April 5, 2022
OWN, Bengaluru-based online gaming startup has received $2 Mn in seed funding round from Better Capital, Cloud Capital, Polygon Studios, and Indigg.
NFT-based play to earn game on crypto markets by next month, is being planned to be launched by the gaming startup.
Further, the gamification of Bitcoin and Defi would be done by OWN. Into the metaverse of cryptos to be called Cryptoverse later would be evolved by the platform, said the startup.
Founded in February 2022 by Akhil Gupta (IIT Delhi), Mayank Shekhar (IIT Gandhinagar), Dinesh Goel (IIT Bombay), Kunal Jadhav (IIT Bombay), OWN aims to build a Non-Fungible Tokens (NFT)-based play in order to earn game on crypto markets.
Through a smooth and simple gaming experience, such gamification would help people understand complex products, claims the startup.
In India, the entire crypto ecosystem is at a nascent stage. However, to build a platform where people can enjoy games that would help in spreading awareness and educate people about the benefits of cryptocurrencies has been claimed by OWN.
Meanwhile, digital art and other collectibles into distinctive, visible assets that are simple to transact on blockchain has been converted by the NFTs. Launched in 2017, as compared to other digital currencies, gaining more traction among Gen-Z and millennials, NFTs are likely to have a rapid rise.
Recently a lot of investment has been made in NFT-based gaming platform for instance, for an undisclosed amount to accelerate Glance’s ambition of building NFT-based live gaming experiences for Gen-Z, InMobi’s consumer internet arm Glance acquired gaming startup Gambit Sports.
Further, the corporate venture capital arm of Dream Sports, Dream Capital, was reported to lead about $100 Mn funding round in Rario, the cricket-focused NFT startup.
As per a report by Deloitte, by 2022 growing at a CAGR of 40% meanwhile, the online gaming industry is estimated to touch the $2.8 Bn-mark, after witnessing strong growth momentum in the pandemic times.
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