Driven by a desire to unlock the next-generation economies for game finance (GameFi) and the Metaverse- two rave-of-the-moment frontiers, KoiLabs has successfully secured a staggering $2.6 million in a pre-A funding round. The funding round was led by big-time investors with huge stakes in several projects within the crypto and blockchain ecosystem including GameFi and the Metaverse. Investors like AU21 Capital, Titans Ventures, ZBS Capital, X21 Digital, Maven Capital, Encrypt Club, Kyros Ventures and ExNetwork Capital participated in the funding round.
With such funding at its disposal, KoiLabs aims to map out a lasting future for the Metaverse that it is building and project it to a larger audience. The rapid adoption of the metaverse and tokens powering it is a pointer to the prospects the innovation holds in the blockchain and crypto space.
How KoiLabs aims to achieve the unlocking process
“Certainly we are the true Metaverse believers and builders who have strong motivation to unlock the next-gen GameFi metaverse economies. In Metaverse powered by blockchain, we have seen the following core disruptive innovations.”
The GameFi and metaverse economies have been rapidly expanding in recent times, pointing to the emergence of new technological frontiers with many untapped potentials just like blockchain technology and cryptocurrency. Powered by blockchain technology and token economy, the GameFi ecosystem and metaverse is gaining significant traction as individuals and businesses look forward to being part of a virtual world that absorbs reality. KoiLabs is bringing this reality closer with KoiMetaverse and KoiNetwork.
KoiMetaverse (Koiverse) is a fish farming blockchain game that combines token economy and nonfungible token (NFT) assets. It consists of a series of smart contracts and all of the in-game assets belong to its players. Players can mine more of the native token SHELL by collecting high mining power fish and grow them by spending SHELL, creating a positive self-circulation. The trend of play-to-earn (P2E) blockchain games is far from over as shown by the total value currently locked in them.
In 2020, play-to-earn games began picking up momentum amid the pandemic. This year, they have exploded and now serve an income stream for gamers, especially in countries like the Philippines and Brazil. KoiMetaverse is riding on this momentum to unlock more potentials in GameFi Metaverse — two economies already attracting keen interest from global firms such as Facebook and Microsoft.
On KoiMetaverse, users can breed fish which they can also lock in the pictorial book to mine KOI, the metaverse's native and governance token. Using the KOI token, they can participate in other decentralized finance (DeFi) activities and acquire a variety of NFTs that KoiLabs is bringing to the metaverse. KoiLabs' vision for the metaverse is centered around three core beliefs: blockchain infrastructure leads property rights revolution, nonfungible token changes the type and rules of games and, lastly, tokenization and crypto create brand-new business models.
Apart from the KoiMetaverse (Koiverse), KoiLabs is also launching Koi Network, also a next-generation infrastructure for issuing, trading and liquifying GameFi NFTs from different chains like Ethereum (ETH) and Binance Smart Chain (BSC), thereby facilitating interoperability. For the GameFi NFTs, Koi is launching Koi NFTs Genesis, a limited NFT Collection of 5,000 Koi NFTs of Koi Metaverse. It represents both unique digital collectibles on the ETH/BSC blockchain, as well as players’ access to our blockchain games.
Owning a Koi NFT entitles users to several benefits, some of which are: 20% discount to join Phase 2 of the NFT Genesis launch at a lower price, becoming the seed players of Koi Metaverse (Koiverse), opportunities of play-to-earn and have the return from trading, breeding, tank casting, and more.
Koi aims to unlock the next-gen GameFi metaverse economies by building the digital collectibles platform for virtual GameFi NFTs.