Treeverse, the browser-based metaverse gaming platform, recently raised $25 million in a funding round led by IdeoCo Labs, Animoca Brands, Skyvision Capital, and Stani Kulechove, among others.
Treeverse recently received a $25 million investment from IdeoCo Labs, Animoca Brands, Skyvision Capital, and Stani Kulechove. The main reason for Treeverse’s successful funding is that it aims to provide players with a nostalgic Pokemon-like metaverse in an MMORPG-style game that allows users to interact with NFTs in a virtual environment.
What exactly is Treeverse?
Treeverse is a browser-based 2-D pixel art metaverse founded by an NFT investor called Loopify that aspires to be an NFT type of social media platform. Loopify began as an NFT artist, creating 420 NFT collectibles known as NFTrees, which grew into a metaverse due to community-driven growth. The NFTs, which were released in August 2021, offered 10,000 private land plots for $520 each, and they sold out within an hour. Over 400 Founders’ Private Plots were airdropped to 420 NFTree holders by minting them to their addresses, bringing the total to 10420 plots.
They are now available on Opensea for $7000 per plot and include private homes within the Treeverse that allow for the display of one’s favorite NFTs, the display of art, and the invitation of friends to visit.
Roadmap for the Treeverse
Treeverse is now available for public beta testing. The company intends to introduce play-to-earn (P2E) elements to the game, with the key difference being that assets earned in the game can be used for NFTs. The assets are a reward for users who invest more time and effort into the game in order to obtain more unique items. An in-game trading marketplace, guilds, seasonal events, mini-games, NFT lock regions, and custom public land are also planned.
Because of the increased prevalence of NFTs in the gaming environment, users can now own non-fungible assets within the game. According to the company, future plans include developing a project called Interleave, which will become a DAO and will be related to Treeverse in some way.
The use of decentralized networks and cryptocurrencies has made the metaverse gaming sector a viable option. Because of blockchain technology, payments have become more streamlined. NFTs enable the monetization of in-game assets while eliminating the risk of forgery. P2E has a significant economic impact because it allows anyone to make money by playing.
P2E games such as Axie Infinity and Decentraland have been major players in the blockchain universe’s metaverse gaming fever. Mars4, a P2E metaverse, is combining diverse NFTs with engrossing and immersive simulations of Mars exploration. It enables players to buy and sell virtual land on Mars.