Emerging Play-to-Earn ‘Idle StoneAge’ Secures Huge Seed Round For $25m Valuation
This week, emerging play-to-earn idle game, Idle StoneAge, completed a seed round of investment, valuing the project at $25 million. The round was led by KuCoin Ventures, a leading investment arm of the KuCoin Exchange that aims to invest in some of the most disruptive cryptocurrency and blockchain projects in the Web3.0 era. Idle StoneAge is fast becoming one of the key players in the growing GameFi space, which seeks to utilize NFTs and a network of smart contracts to enable people to earn money by playing video games. With the intention of being community-driven, individuals will be able to participate in determining the direction of the game by being involved in the Foundation, which is responsible for managing in-game development and the strategic allocation of funds.
The fundraising round was led by KuCoin Ventures and supported by a large number of other prominent blockchain-focused VCs and investors, including Chain Capital, Conflux, R8, TradeCoin VietNam, 3 Lions Capital, Junli Capital, and many more. The funds will be put towards a combination of game development, in-game economy support, and marketing efforts, with precise details outlined in the project team’s Whitepaper and set to be actioned according to the community-driven Foundation.
Diving into the game itself, players will find themselves immersed in a world of cartoon heroes and monsters in search of a long-lost treasure. Gameplay is turn-based, with each player able to employ different strategies that enable great replayability and diversity. Players can earn, unlock, or buy NFTs of Hero characters with differing skillsets and properties to battle against each other and other evils in the world around them in order to gain experience, level up, and compete for prizes. The game is playable as both an in-browser and mobile app, with consistent player interfaces and experience across the two.
Idle StoneAge is part of a new generation of applications that are seeking to revolutionize online entertainment by allowing players to be a part of the games they are playing and be financially rewarded for that participation. Players can choose to buy and sell their NFT items, stake their application-native SAX tokens or NFTs, and become liquidity providers to earn profits. Also, individuals can choose to vote on the development direction of the game using SAX governance tokens and decide from themselves how Idle StoneAge should be.
After a very successful airdrop campaign in January, Idle StoneAge is set for main-net release in late March on the KuCoin Community Chain (KCC). Moving forward, the team has outlined plans for an NFT blind box event that will distribute the first generation of Idle StoneAge Heroes to players around the world. As the community continues to grow, the development team will slowly concede decision-making powers and responsibilities to the players who will grow to become the governing authority on all things Idle StoneAge.
About Idle StoneAge
Idle Stoneage is a synthetic NFT concept dual-end (web/mobile) game based on blockchain and deployed on KCC. It is driven by the community, and the core gameplay is card turn-based.
Launched in 2017, KuCoin is a leading cryptocurrency exchange (boasting over 10 million users), now accessible in over 207 countries, with over 640 digital assets to choose from. Currently, the cryptocurrency exchange offers P2P fiat trading, staking, spot trading, lending, and margin trading. KuCoin is presently in the top 5 crypto exchanges, according to CoinMarketCap, with Forbes also naming it as one of the best cryptocurrency exchanges in 2021. KuCoin got a massive boost of $20 million from Matrix Partners and IDG Capital in 2018.
To find out more, visit https://www.kucoin.com
KCC is a public chain project initiated and built by the developer community of KCS and KuCoin, aiming to solve the network latency and high gas fee of Ethereum. It is Ethereum-based and compatible with EVM and smart contracts to provide community users and developers with a higher-speed, more convenient, and lower-cost blockchain experience.
To find out more, visit https://www.kcc.io