• DeFine, A Social NFT Platform Has Raised $5 Million From Asian Investors

  • DeFine, a socially conscious nonfungible token platform has raised $5 million in strategic funding as part of a larger drive to bring more businesses into the NFT space.

    Huobi Ventures, Abyss, an eSports entertainment firm, and PearlAbyss, a global game developer, lead the round, the company revealed Tuesday. Draper Dragon, NGC Ventures, and SevenX Ventures were among the Asian blockchain funds that took part.

    DeFine’s worldwide operations lead, Myoung Hoon Kang, said, “It is my joy to have these significant gaming and entertainment organizations in Asia as key investors.” “Through strategic investment and collaboration, we will be able to jointly establish new market potential in a variety of industries.”

    Investors will receive direct support from DeFine in connecting to the NFT market as part of their strategic investment. The company’s ambition is to build Asia’s largest NFT ecosystem. One of its key goals is to introduce NFTs to the general public, starting with the gaming and entertainment industries.

    DeFine bills itself as a social NFT platform for artists, musicians, gamers, influencers, and athletes. Users of the platform have NFT-based social profiles that showcase their accomplishments and contributions to the network.

    According to DappRadar data, the sale of NFTs increased by $2.5 billion in the first half of 2021. Gaming and entertainment are two of the most common NFT applications. This trend has been noticed by venture capitalists, who have spent millions of dollars into NFT-focused firms this year alone.

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