Published on: 06/06/2022
Polygon, Hashkey invest $10.6M in Revoland through seed and pre-sale funding
The world’s first blockchain-based multiplayer online battle arena (MOBA), Revoland, has garnered $10.6 million in funding through seed and pre-sale rounds. A total of 14 crypto venture capital firms contributed to the project, including HashKey Capital and Polygon Ventures, listed as lead investors.
Other prime crypto venture capital investors that have backed Revoland include LinkVC, AKG Venture, Arcanum Capital, Atlas Capital, AW Capital, Crypto Nord, Gene Vision, MX investment, One Block Capital, Phemex Venture, PlayPark, Tian Ge Interactive, Winston International, and Yield Master.
This is a huge support for the platform to have the support of well-known and experienced crypto venture investors. Due to Revoland’s and the sector’s potential, the 16 funds chose to add it to their diversified, multi-sector portfolios despite a weak market.
Chain X Game (CXG), a London-based blockchain game developer, is the team behind Revoland. CXG said it saw gaming as a way to accelerate the adoption of Web3 technologies.
“With Revoland, we’ve created a space where players will have full control over their in-game assets, take an active part in the construction of the game ecosystem, promote its development and act as its governors through leveraging REVO, our governance token”, said CXG CEO Jimmy Zhao.
In the Middle East and North Africa (MENA) region, the gaming service collaborated with Huawei Cloud to launch a play-to-earn model earlier this year, which is expected to create millions of jobs. The list of partners includes SiGMA, SEAGM, Khalaspay, and, SEM9.
“The Middle East’s gaming community is highly engaged and continues to thrive. Hosted on Huawei Cloud, Revoland’s play-to-earn game model will create new sources of income for Middle Eastern gamers as they have fun,” Jimmy said. “We will be tapping into a strong network of telecom operators to drive adoption.”
Revoland allows players to team up with others, play, and earn tokens based on their individual skills. According to a statement, the game concept combines the advantages of traditional mobile games to deliver an authentic “social gaming experience” and profit model.
The game is the first chain game built on Huawei Cloud and fully powered by the platform. Among the services that Huawei’s public cloud provides to customers worldwide are elastic cloud servers, cloud databases, cloud security, software development services, and scenario-based solutions.
“The resources and versatility of Huawei Cloud create opportunities for developers in all scenarios. Gaming is an immensely popular pastime for Middle East audiences, and we are delighted to be a part of this revolutionary gaming experience as represented by Revoland,” said the president of Huawei Cloud Middle East, Frank Dai.
“We welcome publishers to continue to leverage our Middle East cloud region and our long-standing ICT expertise to create and promote games that enhance the experiences of gaming enthusiasts in the future and enrich the digital entertainment sector in the Middle East region.”
Gamers are encouraged to compete against each other for prizes in $LAND, the platform’s native coin, by combining forces with coworkers, friends, and family. The gameplay combines individual skills with group efforts with high engagement levels, thanks to the lack of a pause button. Players compete in various game modes to earn attractive ranking rewards that are updated monthly.
The free-to-play version of the game makes the initiative a unique communal gaming experience that promotes inclusion. Players can use $LAND to purchase Mystery Boxes containing characters and enhancements if they are committed to the game and want to learn more about it.