• NFT Games Spellfire closes funding round, raises $360K

  • Spellfire, a unique NFT-centric card game, has closed its seed funding round. The project was backed by a number of high-profile venture capital firms.

    Spellfire Digital Collectibles Game Raises $360,000

    According to a statement shared by the Spellfire team, it has successfully closed its seed funding round. A group of venture funds and angel investors received a total of $360,000 in funding.

    Spellfire’s mission, vision and progress attracted a group of top venture capital firms, including Terranova, x21 and Autonomy Capital. Additional corporate and angel investors will participate in the next round of funding, which will be organized as a private funding round.

    Spellfire’s token design includes 200,000,000 tokens; the team will distribute them among players in the form of in-game rewards.

    Spellfire is one of the first card game environments to take advantage of tokenization and NFT.

    Unlike most ethereum-based decentralized games, Spellfire has a low “barrier to entry”: cards can be purchased as NFTs for a minimum price of $200.

    Spellfire distributes 90% of the profits among community members

    Plus, the Spellfire NFT ecosystem is designed with a lot of quirky advantages over the competition. All Spellfire NFTs are associated with “physical” real-world cards.

    In its new augmented reality module, Spellfire customers can interact with in-game assets through gestures.

    Spellfire’s NFTs are upgradeable: users can give unique features to their designs. In addition, users can cast, store and trade their own NFTs associated with items or characters from the Spellfire metaverse. To unlock their NFT’s upgraded skills, users can purchase the necessary value in-game: one “magic” point is worth $0.03 at the time of printing.

    Last but not least, the Spellfire team adheres to a fair revenue distribution model. 90% of all profits raised in their in-game NFT marketplace will be distributed among token holders.

    Spellfire representatives emphasized that both NFT and Play-to-Earn (GameFi) are two areas that are booming in 2021. In its latest report, the Blockchain Gaming Alliance (BGA) registered a 121% increase in the number of active wallets, while 840,000 new users joined the space in 2021.

    As far as the NFT space is concerned, the monthly revenue inflow exceeded $1.5 billion in the third quarter of 2021, according to the Spellfire team’s estimates.

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