Monoverse Announces $3.1M KOREIT Investment, Gametopia Partnership
2022.05.11 15:36
Monoverse Announces $3.1M KOREIT Investment, Gametopia Partnership
- Monoverse acquires a $3.1M investment from KOREIT.
- This funding will be used to further develop its Frutti Dino game.
- Monoverse also announces a partnership with Gametopia.
Monoverse, a blockchain-based game developer, has acquired a $3.1 million investment from Korea Real Estate Investment and Trust (KOREIT). Through this funding, the platform will continue expanding its presence in the blockchain gaming space and further develop its flagship play-to-earn NFT game Frutti Dino.
“We are thrilled to continue developing blockchain and advanced games at the cutting edge of technology with support from Korea Real Estate Investment and Trust,” shared Monoverse CEO, Jayden Lee. He also expressed how grateful the company is for the community’s “continued outpour of support.”
Moreover, this financial move only proves KOREIT’s full support toward Monoverse’s objectives and its faith in the company’s budding potential in the gaming industry. That said, a representative from KOREIT happily commented on this achievement:
As an expert in the growing blockchain and NFT game industry, Monoverse is well-equipped to make waves in this competitive global market. We are happy to set the stage for Monoverse to grow and will actively support the project to help it sustain its success.
Additionally, Monoverse is currently in the process of creating a platform called Entropy. It enables any game developer to seamlessly migrate their games to an Entropy sidechain and sit on its wider ecosystem. This, in turn, leads traditional gaming projects to decentralization as it eliminates the necessity of building their sidechains.
Furthermore, Monoverse intends to utilize Entropy to include conventional and NFT-based third-party games onto its sidechain. Here, gas fees are low and the transaction processing speed is incomparable.
Alongside the $3.1M funding, Monoverse also unveiled a new partnership with Gametopia — a digital game development studio and a subsidiary of Chinese Gamer. Similar to its goal, Monoverse will allow Gametopia to relocate its games to the Entropy blockchain and incorporate NFTs and tokenomics into their design. Consequently, it will pave the way for players to own their digital assets.
In other news, Monoverse’s Frutti Dino has recently launched its NFTs on the Binance network and has grown its community to more than 100k participants worldwide. To be in the loop with the latest updates about the company, users can visit its official website.
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