Web3 game firm Eterlast raises $4.5 million
Eterlast emerges from stealth mode after raising $4.5 million to develop web3 games for sports enthusiasts.
Eterlast has emerged from stealth mode after raising $4.5 million to deliver web3 games to sports lovers. The first funding round was headed by Supernode Global. Immutable X, Stake Capital, and Founders Factory were also investors.
The London-based firm was split out from the venture studio of Founders Factory. It intends to make owning NFTs more participatory for sports fans by allowing them to use the assets inside gaming experiences.
It is the most recent increase for gaming firms. Other recently disclosed funding rounds include Arcade2Earn’s $3.2 million, Xternity’s $4.5 million, and Microsoft’s $46 million investment in WeMade. According to The Block Research, gaming and NFT firms continue to dominate capital raising despite the decline of both crypto and conventional markets.
Eterlast will first concentrate on boxing and rugby. It aims to release House of Boxing next month, allowing players to reconstruct important moments from famous bouts in a player-versus-player gaming style. In collaboration with boxing promoter Queensberry Promotions, Eterlast was able to collect a vast library of boxing matches for the site.
ImmutableX, a scaling solution that draws on StarkWare’s zero-knowledge-proof technology is the foundation of the startup’s tech stack.
Oli Strong, an investor at Supernode Global, said, “The team has done a tremendous job establishing amazing partnerships and intellectual property to integrate with their platform.” Web3 and Eterlast are well positioned to capitalise on the immense potential that exists at the junction of Sport.