December 6, 2022

Market forecast dApp PlotX secures $5M in seed funding

2 min read

PlotX, a prediction-based GameFi market environment built on Polygon where users forecast the result of real-world occasions to earn rewards every hour, has actually announced that the project has protected a $5 million pre-Series A funding round and grant-led by Polygon Studios and Hashed.

The financing round saw participation from numerous significant financiers including Polygon Studios, Hashed, Animoca Brands, Alpha Wave Global (formerly Falcon Edge), and power angels consisting of Sandeep Nailwal (Co-Founder of Polygon) and Alan Howard (Co-Founder of Brevan Howard Asset Management).

Since its creation, the PlotX community has actually grown to over 83,000 paying users verifiable on-chain, with a growth rate of 144% month-over-month. Further, over the last 7 months, PlotX has actually crossed $4.1 M GMV, growing 59% month-over-month. The PlotX team likewise reports that 70% of this GMV is from retail users. Moreover, 21,555 people have actually become token holders.

Near-Term Roadmap for PlotX

  • PlotX Play2Earn: To launch a Play2Earn variant to complement the existing Predict2Win game. This will offer users an opportunity to transform their time into money, and develop a sustainable economy for the PlotX video gaming community.
  • New Features: Over the next couple of releases, PlotX will unveil several core gameplay functions such as PvP battles, specific avatars, NFTs with unique abilities, leaderboards, user level-up systems, daily/weekly missions, and more.
  • Staking Program: PlotX will be launching a new staking program to reward the community with bPLOT and MATIC tokens.

Financiers Comments

Sandeep Nailwal, Co-Founder of Polygon:
“PlotX has actually discovered the holy grail of Product-Market-Fit. I’ve seen their journey in the crypto ecosystem since 2017 and it is phenomenal to see the development of PlotX. We are rooting for PlotX to be India’s Axie Infinity, powered by Polygon, and are really delighted to partner with the team!”

Yat Siu, Co-Founder & & Executive Chairman of Animoca Brands:
“PlotX has been building facilities for scalable Web 3.0 skill-based gaming, and its embedded wallet, meta-transaction relayers and solid core game loop already provide a strong user experience. We are enjoyed support the group in its vision to develop the most sustainable GameFi ecosystem for emerging economies.”

The post Market forecast dApp PlotX protects $5M in seed financing appeared initially on CryptoNinjas.