P2E Metaverse Company Affyn Secured $20M in Funding Over Several Rounds

FinanceFeeds Editorial Team

Singapore-based Play-to-Earn (P2E) Metaverse company Affyn has achieved a market valuation of over $1 billion after its recent public listing. 

Given that the P2E industry boomed during the COVID-19 pandemic to record an increase of about $2 billion in revenue in the Q3 of 2021, it makes sense that the blockchain-powered Metaverse projects are seeing increasing interest from investors. 

Affyn’s successful funding comes after it has conducted a Presale and Launchpad round along with oversubscribed Private and Strategic rounds.

P2E games have been seeing so much interest due to the opportunities they offer to players to earn rewards or collectables by doing what they already enjoy, playing the game. 

Affyn, which integrates both the virtual and the real world, utilizes geolocation technology, augmented reality (“AR”) mechanics, and non-fungible tokens (“NFT”) to create a lucrative and fun ecosystem. 

For over a year now, the Affyn team has been developing a closed-loop ecosystem with a focus on sustainability. The idea is to create a system with multiple revenue streams, including an advertising revenue model and business-to-business collaboration. 

Sustainability is the key

Affyn is positioning itself as one of the pioneers of building a sustainable mobile Play-to-Earn model.

The company will also be developing a Metaverse called “NEXUS,” built on a digital layer mapped to the real world, where users can explore, play, and participate in activities based on their geolocation.

The trailer video for the NEXUS Metaverse is set to be released in February.

Players in the NEXUS Metaverse will be able to capture and train “Buddies,” a collection of NFTs in the game, to participate in quests, player-versus-player battles (PvPs), and raids.

Every “Buddy” character in the game is an NFT on the blockchain, meaning the “Buddy” holders will own these NFTs. Besides owning them, players can also train and play with Buddies interactively. The team plans to make these Buddies transferrable to other games as well in the future, maybe even without changing their attributes. 

The company meanwhile is expanding its team and hiring across game development and engineering functions to aid with their project development. 

Read this next

Inside View

Broadridge report finds 27% of firms’ overall IT budget goes to digital transformation

“A new chapter in digital transformation is emerging. In our work with clients across the financial services industry we see leading firms are already reaping the benefits from digitalization and the use of technologies such as AI and blockchain/DLT, as they adapt to economic headwinds and new competitive dynamics”

Executive Moves

Ripple announces Monica Long as President

“I’m incredibly honored to take on the role of President at Ripple as we expand deeper into crypto-enabled services like liquidity, settlement and custody.”

Executive Moves

Arabesque AI appoints Carolina Minio Paluello as CEO

“Arabesque AI is uniquely positioned to service the asset management industry’s need to meet the growing market demand for hyper customised portfolios.”

Industry News

SEC Commissioner Mark T. Uyeda says standardized ESG measures are doomed to fail

“Because ESG ratings may be divorced from matters of financial materiality, they can reflect a particular political or social agenda.”

Industry News

Worldline launches digital payments suite in India

“Our low-cost innovative offering SoftPOS will empower SMBs in a big way to accept digital payments affordably.”


cTrader Web 4.5 Presents Guest Mode, Multiple Charting and Copy Improvements

Spotware has announced the release of its cTrader Web version 4.5, which comes with a whole range of features and improvements for all cTrader users.


SteelEye suggests integrated surveillance as Morgan Stanley fines employees over WhatsApp

“The use of integrated surveillance means firms can avoid unwanted regulatory attention by enabling them to self-report and self-remedy more efficiently when malpractice is flagged.”

Industry News

ASIC bans Gregory William Finerty for unlicensed FX algo trading bot

Bradford AI leased an algorithmic trading program known as ‘Robot 1’ to trade on the FX market, using an Australia-based over the counter contracts for difference (CFD) broker.


With the recent changes to St Vincent licensing, what will the future trends be for licensing in 2023?

New St. Vincent and the Grenadines regulations came as somewhat of a shock for those brokerages that are only regulated in SVG