Monopoly Millionaire Game (MMG), a marine-themed GameFi that involves island construction, cultivating, shooting and more, announced that it had completed a seed funding of $1 million. By this round of funding, MMG was valued at $10 million.
Mirana Ventures led the seed funding round. Other notable investors included Kernel Ventures, Mint Ventures, CryptoJ and Ventorylabs.
The MMG team said it would use the fund to help realize the MMG GameFi vision and attract more users to participate in the Web3 games. In MMG, players shall buy Cannon NFTs to get a nonfungible token (NFT) entry. With the NFT entry, players can earn daily check-in rewards and play-to-earn (P2E) rewards. Daily check-in rewards guarantee players earn their principal back. Besides, players can earn additional rewards with P2E within the NFT life cycle.
“In [the] MMG GameFi economic model, each NFT has a life cycle that means each can only be used for P2E for a limited period of time. Players have to upgrade the NFT or sell it in the marketplace when its life cycle expires. This enables us to better control inflation and have a healthier ecosystem,” Monopoly Millionaire Game CEO Angle said in an earlier press release on Cointelegraph. “Now, [the] MMG GameFi official version is launched. We welcome all users across the world to visit [the] Monopoly Millionaire Game official website to download and experience the game.”
Monopoly Millionaire Game is developed by group members who have rich game-developing experience in world-famous internet companies. Even though the product is still in its early stages, investors believe it has significant growth potential to connect game players all over the world.
“With several hundreds of experienced game developers and tens of thousands of users in the world, the potential for Monopoly Millionaire Game is significant,” Karter, a partner at Mirana Ventures, said in the press release.
About Monopoly Millionaire Game
Monopoly Millionaire Game is a marine-themed game that features activities such as island construction, cultivating and shooting, among others. It is an NFT P2E game built on BNB Chain. It adopts a dual-token economic model. MMG is the in-game token, and MMC is the governance token.
Players use Cannon NFTs to hunt marine creatures, and each cannon fire will consume Gold Coins, which have a limited daily quota. By hunting, players earn MMG token rewards. The Cannon NFT varies from one- to eight-star levels. The higher the level, the more P2E profit the players will earn. Moreover, by receiving daily sign-in rewards, a player can completely cover their NFT costs, not to mention the additional P2E rewards available.
Each Cannon NFT has a life cycle. When it expires, the player has to upgrade it or sell it on the market. This solves a deep-seated problem in many GameFi games: inflation. The MMG team strives to build a long-term and sustainable ecosystem where players can enjoy the game, be entertained and earn a profit in the meantime.