MetaDerby, the play-to-earn horseracing game on Avalanche, has announced the closure of a successful funding round that raised $2.5 million. Ava Labs and Old Fashion Research were the leading VCs in this round, which raised seed capital for the fast-growing game. Other venture capitalists included Magnus Capital, Avalaunch, Coins.ph, AventuresDAO, Shima Capital, IndiGG, LD Capital, Keychain Capital, HTR Group Dux, MVM DAO and Hailstone Ventures.
MetaDerby promises to be a disruptive game thanks to its P2E and F2P models blend. This ensures that nobody is locked out. All gaming enthusiasts can enjoy this entertaining and immersive game, regardless of whether or not they have the funds to buy its in-game items. This “DerbyVerse” has a fun-filled mimicry of real-world horseracing, including breeding, racing, betting, land ownership and many more.
Notably, the game has already built a strong community of more than 70,000 members during its short lifetime. The game also has a staking feature, has a DeFi market and a create-to-earn land system.
Commenting on the funding, Mike, founder of MetaDerby, thanked the game’s supporters, who gave it over 4,000 votes in the Avalanche Hackathon. Undoubtedly, the game’s investors have seen its immense potential, hence their enthusiasm to immerse their resources in it. “The project has seen tremendous growth since its inception, and the promise of a DerbyVerse means the project’s scalability will be tremendous,” said Ling Zhang, Managing Partner of Old Fashion Research.
Lydia Chiu, the Business Development VP at Ava Labs, stated that GameFi was on a strong growth trajectory on Avalanche. She added that MetaDerby’s status as the first horseracing game on Avalanche presents a great growth opportunity.
MetaDerby is a play-to earn and free-to-play (F2P) metaverse game on Avalanche. It simulates all the elements of real-world horseracing economy, with great earning opportunities. Players can breed horses, form jockey clubs, build stables, buy land tokens and much more.
Importantly, MetaDerby is accommodative of gamers in its F2P model, giving them a fair chance of earning valuable tokens. Therefore, that is likely to attract many users in the coming months.