Revoland raises $10.6m to boost its blockchain game adoption
Revoland has raised its seed and pre-sale rounds as the multiplayer online battle arena (MOBA) game looked to ride a wave of interest in blockchain-based gaming in preparation of its launch this year.
The $10.6 million fundraise was led by HashKey Capital and Polygon Ventures alongside 14 other crypto venture capital firms. The list of backers includes Tian Ge Interactive, AKG Venture, LinkVC, Arcanum Capital, Atlas Capital, Crypto Nord, PlayPark, MX investment, One Block Capital, AW Capital, Phemex Venture, Winston International, Gene Vision and Yield Master.
Revoland enables players interested in its play-to-earn model to gather colleagues, family, and friends to form a team, fight with others, and earn token rewards for their individual skills. The gameplay combines players’ individual skills and teamwork to challenge themselves in various game modes, with attractive ranking rewards that are updated monthly.
Earlier this year, Revoland was the first blockchain game to launch on Huawei’s public cloud service with full support from the industry-leading cloud platform.
“The endorsement from established and thorough crypto venture capitalists is a massive boost for the platform and the sphere at large. The decision by the sixteen funds to add Revoland to their diverse, multi-sector portfolios in a bear market points to the quality of the project and the potential of the space,” the statement reads.
Revoland plans to earmark the funds for product and business development, game design and additional staffers and in the meantime has been partnering with a number of prominent gaming guilds.
With Revoland, London-based metaverse game development company Chain X Game targets not only investors and blockchain enthusiasts but also hardcore gamers. The publishers’ first title, Puppy Planet, had a big success, which encouraged them to bring its “play to earn” gaming experience to Revoland.
The gaming platform intends to create a Web3-powered community, with players wishing to explore the game deeper can spend its native token, $LAND, to access additional characters and upgrades.
“With Revoland, we’ve created a space where players will have full control over their in-game assets, take an active part in the construction of the game ecosystem, promote its development and act as its governors through leveraging REVO, our governance token”, Jimmy commented.