DeFi Land, a multi-chain agriculture simulation web game designed to gamify decentralized finance, recently completed its Series A funding round, raising approximately $4.1 million from industry investors.
According to an official press release, the project intends to use the new funding to scale its platform and services on the Solana blockchain.
The team is working to bring DeFi to a wider audience by developing a solution that aggregates across multiple protocols.
NFTs will be supported by DeFi Land.
DeFi Land also stated that it would support native non-fungible tokens (NFTs) and implement a play-to-earn model that includes achievements, tasks, battles, and other ways for players to earn money. Existing NFTs on the network will be given “new life” by the added utility.
Furthermore, the project is nearing completion of its integration with the Solana-based projects, Serum and Raydium, with a beta version and the NFT marketplace set to launch in Q4 2021.
DeFi Land plans to add more protocols from Solana and other blockchain networks, such as Ethereum and Binance Smart Chain, to its platform in the coming months.
Furthermore, the project stated that a portion of the funding will be used to educate retail users on what to expect in the gamified environment, as well as to improve the overall interface and make onboarding new entrants into the space more straightforward and appealing.
More than 40 institutional investors contributed to the $4.1 million funding round. Animoca Brands, Alameda, Jump Capital, NGC Ventures, Solana Foundation, Gate.io, MXC, Solar Eco Fund, Youbi Capital, and others were among the notable industry names.
“DeFi land is an incredible blend of the two most interesting things happening in crypto right now – gaming and defi,” said Brian Lee, VC at Alameda, in a comment. We believe that Defiland will be a game changer in attracting casual gamers and crypto retailers to DeFi.”