Blockchain gaming and the metaverse are currently some of the most popular topics in the crypto market. One of the leading play-to-earn projects in blockchain gaming, Ertha Metaverse, has secured $5.4 million in a funding round.
The vast amount raised during this funding round comes as the metaverse attracts much attention across the sector.
Ertha Metaverse’s $5.4M funding round
Some of the firms involved in this funding round include GD10, Zen Capital, Shima Capital, LD Capital, Polygon Syndicate, Genblock Capital, Terranova, Dialectic Momentum6, X21, Au21and OKEx Blockdream Ventures.
The funding round also comes shortly after the firm announced the launch of IDO’s. The company unveiled IDO’s for three of the leading blockchain gaming launchpads, including GameFi, RedKite and Seedify.
Ertha metaverse further noted that it had sold over 7500 land plots on the platform. These virtual lands can be used as an income-generating opportunity.
Xi, a partner at LD Capital, commented on the funding round noting that, “we have no hesitation to invest in Ertha after the first call with Ertha team. They have a proven track record in both the gaming and crypto industries. Coronavirus pandemic has forced governments to take various lockdown measures, which placed huge pressure on economies and businesses. At this challenging time, we believe Ertha is going to gain more adoption from traditional game players and start a new era of Play to Earn.”
The rapid growth of the metaverse
The metaverse is a space that is recording a high level of growth. In November, the island of Barbados announced that it was making plans to unveil the first embassy on the metaverse. To make this possible, the country’s Ministry of Foreign Affairs and Foreign Trade entered into an agreement with Decentraland.
As mentioned earlier, Ertha metaverse is one of the popular players in the sector. The platform notes that through the metaverse, players have a chance to right the wrongs of the past by creating a new virtual world.
The platform notes that players can “extract resources, develop land, re-build economies, and re-form countries and their governments in the way they see fit. Each player’s actions can have lasting impacts within an ever-evolving metaverse.”
