Vietnamese studio bags $1 mln funding

Vietnamese studio bags $1 mln funding for new blockchain game

Vietnamese game studio Topebox and its blockchain partner KardiaChain have raised $1 million for an upcoming blockchain game called My DeFi Pet.

The investors include Shanghai-based venture capital firms Axia8 Ventures, OKEx Blockdream Ventures, and the venture capital fund of cryptocurrency exchange OKEx in Hong Kong. Vietnam-based venture capitalist Megala Ventures and Chinese game developer Animoca Brands have also pitched in.

Based in HCMC, Topebox is the developer of hit games like Pocket Army, Sky Dancer: Free Falling, and King Rivals. It had bagged $1 million in the seed funding round from Singapore’s mobile game publisher Habby in April last year.

My DeFi Pet is its first blockchain gaming project, which is set to launch globally in mid-May. The game will include decentralized finance (DeFi) and non-fungible token (NFT) features. NFT is a unit of data stored on blockchain that certifies a digital asset to be unique and therefore not interchangeable.

Accordingly, players can earn tokens while playing the game, get rewards by participating in the game’s events and make profit from selling in-game characters.

The Topebox developer team includes experienced game producers from Vietnam’s gaming giant VNG and leading global mobile video games developer Gameloft.

It aims to have it business appraised and valued at $150 million in the next 3-5 years.

Before My DeFi Pet, Vietnam had developed another blockchain game called Axie Infinity, released in 2018. It was developed by Vietnamese game developer Sky Marvis and was the first blockchain game developed in Southeast Asia.

PUBLISHED BY– retailnews


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