- Play-to-Earn racing game Nitro League secures $5 Million in funding.
- The decentralized mobile game is venturing right into the metaverse.
- The Nitro League leverages NFTs in a fun and lucrative way.
Play-to-Earn mobile racing game, Nitro League is certainly getting much-needed attention from investors, and this is evident in its recent success. The team behind the decentralized next-generation gaming platform is excited to announce it has raised $5 million from various prominent investors.
The newly acquired fund will see the platform join the race to integrate metaverse into its ecosystem. Led by SL2 Capital, prominent participants in the funding round include YGG Southeast Asia, Morningstar Ventures, Axia8 Ventures Yolo.io, Skyman Ventures, YGG Global, Double Peak, LD Capital, ExtraWatts, Calisto Capital, Infinity Ventures Crypto, NGC Ventures, and Woodstock.
Remarkably, Nitro League is the first of many projects released by Hotwire Studios, leading innovation in the mobile-first GameFi infrastructure and easy-on ramp for guilds. To add on, Hotwire recently successfully raised 10m USD from prominent tier 1 funds as well.
Nitro League comes with its own unique features designed to provide a dynamic gaming experience with solid tokenomics and NFT support to its users. Interestingly, it spans a multi-token economy where players can own, sell, or trade in-game items.
In the Nitro League metaverse, all players can race against others, complete missions, and work their way up to create a clan. However, as a clan leader, you will need street credit, which helps expand the fleet of cars. Similarly, adding members to the clan will benefit the DriveTribe in the Nitro Arena.
A Nitro League CEO, Zaynab Tucker comments on the mission of the platform,
We’re aiming to shake up mobile gaming with the latest technology on the market. It’s not always about thinking up a new idea but just doing away with old ones. I believe we can leverage NFTs in a fun and lucrative way. You get the excitement of racing while building up your own niche community. It’s the best of both worlds.
To take you a little bit through the world of Nitro League, the play-to-earn racing game is set in the year 3050. Therein, clans have taken over the world, and countries no longer exist. Disputes are settled through racing in the Nitro Arena, rather than fighting wars. Besides, every win awards status, power, honor, and wealth, and can provide REP, XP (NASDAQ:XP), and more.
More so, a thrilling feature of Nitro League is how its over 500 million downloaders can use their existing NFTs in the Nitro League Arena. For instance, a CryptoPunk holder can leverage non-fungible token (NFT), creating exceptional customization in the play-to-earn racing industry.
The team behind Nitro league in particular are passionate AAA blockchain game developers. Additionally, the multi-token economy is built by Delphi advisors and the co-founder of Holochain designs. Not to mention, YGG is responsible for the scholarship model advisory, which will play a crucial role in the game in the future.