Blockchain gaming incubator and launchpad Seedify has secured undisclosed funding from NGC Ventures, a Singapore-headquartered institutional investor focusing on blockchain and distributed ledger technologies.
As per a press statement, this strategic investment will drive Seedify’s expansion within the blockchain gaming arena and the broader metaverse.
Besides, both firms will collaborate to incubate and grow new gaming projects for optimal impact.
Also read: 7 Metaverse companies in Southeast Asia that caught our attention in 2021
Founded in 2021 by CEO Levent Cem Aydan, Seedify runs on Binance Smart Chain (BSC) and is a platform for IGOs (Initial Game Offerings). It facilitates the launches with detailed verification processes for the participants.
The startup allocates tier systems to participate in these projects’ private and seed funding rounds before their official launches on exchanges. Interested game innovators submit their project proposal to the Seedify decentralised autonomous organisation (DAO). It then allows the holders of its SFUND token (Seedify’s native token) to vote proportionally to their holdings on project proposals and participate in the governance of key decisions that Seedify faces.
If the project passes the community voting process, the entrepreneurs become part of the Seedify incubation programme and receive their seed fund.
The venture also helps build a community of gamers and creates a marketing strategy for these projects. The incubatees often give Seedify 3 per cent of its total token supply to cover costs, besides transferring some part to the SFUND holders in the form of rewards. With this, token holders play a role in the startup’s success and receive a return on investment through decentralised finance (DeFi) seed fund mechanism.
Three main pillars of the startup’s offerings are Seedify Game Studios, Seedify Game NFT Launchpad, and the Seedify Utility NFT Set.
Notable games that have been listed on the Seedify platform include strategy-based land building metaverse Cryptoblades Kingdoms, play-to-earn NFT space game SIDUS, real-time multiplayer PVP arena NFT game Cryowar, and metaverse VR experience Bloktopia.
Also read: Demystifying NFTs and DeFi
NGC Ventures’s other metaverse investments are BigTime Studios, Republic Realm, Terra Virtua, VRJam and Boson Protocol.
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Image Credit: Seedify
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