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Treeverse has raised $25M for its play-to-earn platform.
It is a 2-D pixel-art metaverse, similar to Runescape or Pokemon.
Decentralized networks and cryptocurrencies are fueling the play to earn uptick in popularity.
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Treeverse, the browser-based metaverse gaming platform, has raised $25M in a recent fundraising blitz, from IdeoCo Labs, Animoca Brands, Skyvision Capital, Stani Kulechove, amongst others.
Treeverse recently raised $25M in funds from IdeoCo Labs, Animoca Brands, Skyvision Capital and Stani Kulechove. The main reason for the successful funding is that Treeverse aims to provide players with a nostalgic Pokemon-like metaverse in an MMORPG-style game that allows users to interact with NFTs in a virtual environment.
Treeverse is a browser-based 2-D pixel art metaverse that aims to be an NFT type of social media platform, founded by an NFT investor called Loopify. Loopify started off as an NFT artist, by creating 420 NFT collectibles called NFTrees, which then blossomed into a metaverse due to community-driven growth. The NFTs released in Aug 2021, offered 10,000 private land plots at $520 each, which sold out within the hour. Over 400 Founders’ Private Plots were airdropped to holders of the 420 NFTrees, by minting them to the addresses of NFTree holders, taking the total to 10420 plots.
They are now trading at $7000 per plot on Opensea, and contain private homes inside the Treeverse that allow display of one’s favorite NFTs, showing off of art, and inviting one’s friends to visit.
Treeverse is now in public alpha testing. The company plans to launch play to earn (P2E) aspects to the game, with the distinguishing element being that assets earned in the game can be used for NFTs. The assets serve as a reward for users who spend more time and effort inside the game for the more unique items. There are also plans to offer an in-game trading marketplace, guilds, seasonal events, mini-games, NFT lock regions, and custom public land.
The increase in the prevalence of NFTs in the gaming environment allows users to have ownership of non-fungible assets within the game. Future plans include developing a project called Interleave, which will become a DAO and relate to Treeverse in some way, the company says.
Decentralized networks and cryptocurrencies have made the metaverse gaming sector quite feasible. Payments have become more streamlined due to blockchain technology. NFTs allow in-game assets to be monetized, with no risk of forgery. P2E has a significant economic impact, in that it enables anyone to earn money from playing.
P2E games like Axie Infinity and Decentraland have been big players in the metaverse gaming fever that has swept the blockchain universe. A P2E metaverse called Mars4, is integrating diverse NFTs with absorbing and immersive simulations of Mars exploration. It allows players to acquire and trade virtual land on Mars.
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