Binance Labs, Binance’s venture capital arm and innovation incubator, is pleased to announce that it has led the seed round for Ultiverse, to partner with BNB Chain to build a Web3 metaverse for social gaming. The fund will be used to develop the product, attract top talent and grow the community.
Ultimate is working to connect web3 to a VR-capable virtual world that will be home to the first AAA blockchain game. As the first MetaFi of its kind, Ultiverse’s tokenomics fosters mutually beneficial relationships across ecosystems, where players can benefit from community building.
The world of Ultiverse allows players to import their own NFTs from multiple chains for use in the virtual world, and also supports NFT and country customization. The appearance of NPCs is customized through the AI track of player actions, delivering an immersive gaming experience.
Frank Ma, the CEO of Ultiverse, said:We are excited to grow Ultiverse together with Binance Labs and the BNB Chain ecosystem as we share a common vision of Web3 gaming metaverse. I’m confident Ultiverse will be the proof-of-concept that both Web3 and gamers have been asking for. We will do this by providing intricate virtual worlds and, more importantly, ways in which these worlds can be approached and influenced in a truly collaborative way.”
Nicole Zhang, Investment Director at Binance Labs, said: “ MetaFi is always a sector in which we are active. We believe Ultiverse can bridge the gap between Metaverse gaming and ‘traditional gaming’. and bring more innovations to the community and industry.”
“Blockchain games are still in their infancy. The first generation of GameFi mainly consisted of simple card games, and high-quality AAA games are in great need. That’s why BNB Chain is happy to support projects such as Ultiverse to unlock the full potential of Gamefi.said Gwendolyn Regina, Investment Director at BNB Chain Fund.
Ultiverse launches alongside its first internal game, a 3D MMORPG Play-To-Earn title with a realistic ecosystem that requires different roles of players to collaborate or compete with each other.
The starting round for Ultiverse is co-led by Defiance Capital, with the other investors being Three Arrows Capital and SkyVision Capital.
“DeFiance Capital is thrilled to support the Ultiverse team, which has a stellar track record of building top games on Unity and Unreal Engine 4.,” said Arthur Cheong, Founding Partner at DeFiance Capital: “We are also special Excited about their first game, Endless Loop, a Triple A MMORPG, a genre DeFiance is particularly optimistic for its potential to create an immersive metaverse.”
“By combining next-gen visuals, incredible in-game dynamics, and collaborative gameplay between players in an ever-changing virtual world, Ultiverse’s MetaFi approach puts them well positioned to exceed the perceived limitations of what we thought was possible. with gaming in the metaverse,” said Kyle Davies, co-founder of Three Arrows Capital.
Ultiverse builds the social gaming metaverse that connects Web3 to an immersive VR-capable virtual world. By enabling players of different economic capabilities to build mutually beneficial relationships, Ultiverse is focused on creating a unique MetaFi.
Check out their Twitter handle for more news and information about the platform.
About Binance Labs
Binance Labs identifies, invests and empowers viable blockchain entrepreneurs, startups and communities, and funds industry projects that help grow the larger blockchain ecosystem. Binance Labs is committed to supporting fast-paced teams that are positively impacting the crypto space.
About BNB Chain
BNB Chain is a community-driven, decentralized and censorship-resistant blockchain powered by BNB. It consists of BNB Beacon Chain and BNB Smart Chain (BSC), which is EVM compatible and enables multi-chain ecosystem. With the concept of MetaFI, BNB Chain aims to build the infrastructure to power the parallel virtual ecosystem of the world. For more information about BNB Chain visit https://www.bnbchain.world
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