So far, only the online players are participating well in the gaming economy and other Metaverse activities. Thus, there have been concerns that some sets of people who don’t spend much time on the internet are left out in the play-to-earn industry.
Genopets claimed it has come to bridge this gap. It seeks to merge the real-life and the Metaverse. Such that players, by performing their normal daily activities, can earn crypto rewards concurrently.
In other words, it is going beyond the usual play-to-earn into “move-to-earn”. However, the Startup cannot come into limelight without effective funding. This made its team approach some venture capital firms for funding.
On Monday, 18th of October, Genopets announced that it has raised $8.3 million seed fund. Pantera Capital and Konvoy Ventures backed Genopets in raising this seed.
The other investors that pooled resources together for this round are Fundamental Labs, CMT Digital, Raptor Capital, Yield Guild Games, Merit Circle, Xoogler Ventures, and Animoca Brands to mention a few.
A spokesman of Pantera Capital said this in an interview with the Press:
“Play-to-Earn pinpointed an intersection of gaming and blockchain that has struck a chord with users: earning real money proportional to in-game performance. That’s why we’re so excited to be backing Genopets.”
Essentially, Genopets hopes to do a couple of developmental projects with this fund. Most of which revolves around team expansion, product marketing, and community enlargement.