Zone has closed an oversubscribed seed round of $1.6 million. The platform aims to launch the pioneering GameFi ecosystem on the Algorand meta-domain.
Zone is focusing on the goal of transforming the entire gaming community. Meanwhile, its GameFi product is created with the option to connect to the network effects of the top existing games. It will allow any interested gamer to take on an on-chain gaming challenge.
Moreover, the $1.6 million funding round was led by Borderless Capital. While other prominent institutions such as Saeed Aldarmaki’s Sheesha Finance and Karma Innovations also joined the round. In addition, the company has advisors such as Joey Brander, managing partner of First Serve Partners.
“Blockchain is perfect for the gaming ecosystem by adding the right financial incentives, ownership and traceability features through gaming finance, and ZONE is innovating in this space with the support of Algorand blockchain technology.” David Garcia, CEO of Borderless Capital, commented.
What to expect from the launch?
Prior to this, Zone already has around millions of gamers in South Asia through the participation of its e-sports platform. With this development, the user base will be integrated with Zone. This will enable them to participate in its gaming economy.
On the other hand, the GameFi platform plans to move users from Web 2.0 to Web 3.0. therefore, utilizing its innovative GameFi Discord bot called Zobo. which is already present in 5,000 Discord servers.
In addition, the platform makes it possible for users to directly challenge their peers. This means that users don’t need to sort out “complicated crypto keys and wallets.” At the same time, it will allow Discord server owners to “monetize their community through their fee-sharing model.”
Additionally, Zone revealed its partnership with Boundless Art to build its NFT series, known as AFK Elephant. This will also be the pioneering NFT project on the platform.
Commenting on NFTs, ZONE’s founder said.” NFTs are multi-functional in nature, serving as a tangible reputation signal for gamers’ digital avatars and pseudonym identities on the Algorand blockchain. In addition, along with a built-in reward system, NFTs give their holders a guaranteed distribution on the ZONE IDO, which is scheduled to take place in early November.”
“With a scalable, environmentally sustainable and low-cost blockchain infrastructure, we are excited to see the acceleration of decentralized gaming adoption in the Algorand ecosystem,” said Algorand’s David Markley.
As an Algorand-based community-driven GameFi ecosystem, ZONE combines gaming and decentralized finance. The platform brings together the best elements of the gaming blockchain.