Ethlas, a Singapore-based game finance (game-fi) blockchain startup, raised US$2.7M in Seed funding.
Backers included Sequoia Capital India, Yield Guild Games Southeast Asia, Global Blockchain Innovative Capital, Venturra Capital, Play It Forward DAO, Blockchain Space, Genesis Fund, Deus Ex DAO, Hustle Fund, and executives from Grab, Coinbase, Switcheo and CoinMarketCap.
The company intends to use the funds to expand operations, team and product.
Led by American Gennady ‘Ari’ Medvinsky and Singaporean Elston Sam, who have both worked in top tech companies such as Google, Microsoft, Grab, and Airbnb and other two founders – one of whom is a very senior executive with a Big Tech firm – who will be disclosed in due course, Ethlas is a free-to-play/play-to-earn blockchain-based game finance (GameFi) Metaverse built on the Polygon chain, the protocol for enabling interoperability and scalability within the Ethereum blockchain ecosystem.
Ethlas – a portmanteau of “Ethereum” and “Atlas” – is a free-to-play, play-to-earn platform which helps the lay person win and encash cryptocurrency, by participating in casual games that everyone is familiar with.
As part of its product roadmap, Ethlas will mint its first series of non-fungible tokens (NFTs) called Komos. Modelled after the Komodo Dragons of Indonesia, the Komo NFTs will benefit both free-to-play gamers and crypto natives: Free-to-play gamers can use the five tiers of the Komo NFT to boost their gameplay and secure more $XGEM (Exchange Genesis Ethlas Medium), the in-game cryptocurrency in the Ethlas metaverse. The Komo NFT series will be available before end-February 2022. Ethlas is also working with game studios to launch their games on their platform through a revenue-sharing model.
Ethlas is headquartered in Singapore with offices in San Francisco Bay Area and New York, United States, and Manila, Philippines.
FinSMEs
24/02/2022