Monoverse secures $3 million in funding round for games and Entropy platform
Korean blockchain gaming company Monoverse secures a $3.1 million investment from Korea Real Estate Investment and Trust (KOREIT). The investment enables Monoverse to keep expanding into the blockchain gaming space, with a focus on onboarding third-party games, both traditional and NFT-based, onto its Entropy sidechain.
With this new round of funding, Monoverse sets its sights on further expansion within the blockchain gaming world. Specifically, it’ll be placing the emphasis on its game Frutti Dino, but also its ongoing gaming platform – Entropy. In having its eyes on both game and platform, Monoverse clearly wants to demonstrate value for game developers through a game platform with reliable traffic and interoperability.
According to the company’s press release, Entropy unlocks decentralization benefits to traditional gaming projects by removing their need to create their own sidechain.
“We are thrilled to continue developing blockchain and advanced games at the cutting edge of technology with support from Korea Real Estate Investment and Trust,” says Jayden Lee, CEO of Monoverse. “We are grateful to our community for the continued outpour of support, and we’re certain this funding round will kick our growth into a whole new gear.”
“As an expert in the growing blockchain and NFT game industry, Monoverse is well-equipped to make waves in this competitive global market,” says a representative of Korea Real Estate Investment and Trust. “We are happy to set the stage for Monoverse to grow and will actively support the project to help it sustain its success.”
The investment round also follows up on a relatively good streak of performance for Monoverse. Before this, Frutti Dino had its own NFT collection launched on Binance with considerable success; having grown its community to over 100k participants globally. The team continues to expand and polish off the Frutti Dino content, prioritizing both its gameplay and tokenomics.
Monoverse plans to use Entropy to onboard third-party games, both traditional and NFT-based, including Frutti Dino, onto its sidechain. The Entropy sidechain features low gas fees and high transaction processing speed, offering developers tangible advantages over Ethereum and other popular layer-1 chains. Entropy promotes more widespread adoption of blockchain-based gaming by removing technological entry barriers and easing games’ move from the traditional model into GameFi.