League of Kingdoms Arena respectably announced a $3 Seed Funding round conducted by crypto venture capital (VC) firm Hashed. With this extra boost, the world’s initial decentralized MMO will expand LOKA game points and token acceptance.
Andreessen Horowitz (a16z Crypto), Binance Labs, Sequoia Capital India and BlockTower Capital joined the round as well. Besides, strategic investors such as Sky Vision Capital, Yield Guild Games (YGG), and Korean Blockchain Ecosystem builder, DeSpread completed the remarkable list of members.
League of Kingdoms is known as an NFT strategy game that uses play-to-earn mechanics. The play-to- earn system gives the chance to players to get tokens based on their participation in- game. The previous month, the team introduced the LOKA governance token to start the in-game economy. Afterwards, the League of Kingdoms will insert the useful SOD token into the gameplay. These two tokens grants stronger and wider economic layers to the game.
As said by the official announcement, the new funds will be largely intended for two cases. First, it is used to “build the basic infrastructure for the player ownership and the play-to-earn economy to make money in the game.” In addition, it will accelerate the raise of the global community with more than 200,000 plus active gamers.