The growth of the GameFi market within the crypto ecosystem has seen tremendous growth in the past year and is showing all the signs for an upward trajectory in the impending future. As such, Elfin Kingdom, one of the most promising projects in the play-to-earn space has reported a successful closure of its private and strategic sales round with a funding of $5.25 million.
A cohort of high-caliber investors participated in this funding round led by Binance Labs, as well as strategic contributions from key players like Alameda Research, and notable guilds like Merit Circle, GGG, and Bayz.
Elfin Kingdom is a unique play-to-earn platform that seamlessly fuses the best applications of DeFi (decentralized finance) and GameFi into one gaming metaverse.
In the Elfin Kingdom, users have the opportunity to capture Elfins on their magnificent journeys. There are multiple types of Elfins with different traits and skills, and gamers can feed, battle, and mine them to change their form and abilities in order to reach higher levels.
Bringing financial education to the masses
With a strong focus on Latin American and Southeast Asian economies, Elfin Kingdom aims to make financial education less intimidating and easier to grasp for the masses through their fun and interactive gaming model, while providing opportunities for users to supplement their incomes.
The platform is currently built on the Binance Smart Chain (BSC) network and has plans to integrate with other high throughput, low transaction fees networks such as Solana in the near future.
Says Juan Ibagon, CEO, Elfin Kingdom:
“We are at an exciting stage of blockchain technology where P2E games are now providing a viable career option for millions of users across the globe. Our team is very confident that this investment round will assist us in rapidly scaling our platform and accelerating our go-to-market plans, while positively impacting the lives of people in developing economies.”
Brad Lim, Investment Director of Binance Labs, said:
“Elfin Kingdom is a GameFi project with huge potential. Elfin Kingdom introduces a new form of GameFi, which is combined with DeFi; eventually, players can stake partnered DeFi project tokens within the games for extra benefits. We believe that Elfin Kingdom can bring a ‘free to play’ model to this industry.”
Elfin Kingdom plans to go live in Q1 of 2022.