Spellfire Ends Seed Funding Round

Spellfire Ends Seed Funding Round

Spellfire, the Ethereum-backed card-based NFT game, recently completed its seed funding round.

The round involved names like Autonomy Capital, Terranova, and x21 amassing 360,000 dollars investment into the project. The numbers attracted even more investors towards its upcoming private round.

Spellfire has installed multiple unique features, making it stand out among the competition. Here is an overview of the features:

  • It offers digital and physical NFTs, making it the first game that offers tangible NFTs.
  • Some of the special NFTs come with an “Augmented Reality” feature, allowing owners to use gestures and interact with the NFTs.
  • Users can upgrade the acquired NFTs.
  • Players can create customized NFTs with unique attributes.

Spellfire also integrates a P2E mechanism, allowing users to incur revenue from playing the game and gathering NFTs. The card-based game is distributing 200,000,000 tokens via in-game rewards: The developers will incur 90% of the profits generated through NFTs along with Special collections, Tournaments, and Achievements to ensure ample development in the future.

NFTs have cultivated a global interest from investors, with the industry growing a whopping 2100 percent in the first quarter of 2021. As per CrunchBase, the sector amassed over 2 billion dollars in revenues. 

In July 2021 alone, the sector witnessed a massive 1.5 billion dollars influx, accounting for more than 50% of the gains accrued in 2021 Q1.

P2E games have also scored similar levels of success. According to the latest report published by the Blockchain Game Alliance (BGA), play-to-ear games have amassed over 804,000 unique users this year. The number of players accessing one or more P2E gaming platforms has increased active wallets by 121%. 

The numbers show how well the NFT and gaming industry has been performing. Moreover, with the development of games like Spellfire, the sector will surely increase in stature and reach. 

Find out more about Spellfire here.

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