Terranova, x21 and Autonomy Capital bring $360,000 investment
The NFT-powered trading card game Spellfire has successfully completed its seed investment round, attracting $360,000. Spellfire has support from Terranova, x21, and Autonomy Capital, while more investors are lining up for the private funding round.
Spellfire includes a play-to-earn mechanic, allowing owners to generate revenue from their NFTs and from playing the game, with 40,000,000 MAGIC tokens being distributed through in-game rewards. MAGIC tokens will play an important role on the platform. All play-to-earn rewards from tournaments and battles will be paid out in MAGIC. The native Spellfire token will also allow players to upgrade their NFT cards.
In this sense, MAGIC will be the main currency for performing economic transactions on the Spellfire platform. Additionally, further utility can be found when the token is perceived as a form of public investment in the game.
With the huge rise in popularity the NFT sector has been seeing in recent months, Spellfire is well-positioned to bring in further investments.
What is Spellfire?
Spellfire is an Ethereum-based play-to-earn trading card game. The platform offers an immersive storyline where players can dive into a world of magic and spells. Collecting cards and building stronger decks give fans a chance to find a place among the most powerful citizens of the Spellfire world.
The game has some unique features which make it stand out among peers in the industry.
- NFTs acquired are digital and physical, making it the first NFT based game that allows owners to touch their NFTs.
- Certain NFTs have an Augmented-Reality feature allowing the owners to interact with their NFTs using gestures.
- NFTs will be upgradable.
- Players can create their own NFTs with unique characteristics.
Kings and witches, good guys and evil forces, wars and treason. Spellfire will have everything that a great fantasy game should have. The digital version of the game suggests hundreds of carefully and artistically designed game cards that represent different characters within several distinctive levels.
NFTs are taking over the blockchain industry
According to a recent DappRadar Industry report, the NFT sector is the main driver of traffic for blockchain-based apps. Additionally, the NFT space generated $10.67 billion in trading volume between July and September, which is an increase of 704% from the previous quarter. More importantly, blockchain-based games that incorporate NFTs in the gameplay generated upwards of 70% of this volume.
Considering the massive burst of activity in the NFT space, Spellfire is on the right track to becoming a big name in the blockchain gaming industry. With a successful seed funding round and the upcoming private investment round, Spellfire will introduce further developments to the game.
DappRadar will continue monitoring Spellfire’s development as more players join the magical world. To learn more about the game, you can check out the official website. Stay tuned, as the official NFT marketplace will launch soon, and you’ll be able to start playing Spellfire right away.
Disclaimer — This is a sponsored article. DappRadar does not endorse any content or product on this page. DappRadar aims to provide accurate information, but readers should always do their own research before taking action. Articles by DappRadar can not be considered as investment advice.