P2E LandFi Metaverse KlayCity Raises $3.75 Million in Seed Funding

The world of digital assets is more hyper-realistic than ever, fueled by the media attention surrounding crypto. Blockchain games have really taken off as a result and new experiences are being created daily. However, some developers feel that there’s still room for improvement in terms of realism and immersion; with this in mind, LandFi has developed its Metaverse/KlayCity platform to give users access to their own virtual environments using blockchain tech.

South Korean play-to-earn (P2E) LandFi metaverse KlayCity recently raised $3.75 million in a seed and private funding round. The round was led by Krust and Animoca Brands, with participation coming from a long list of other investors such as Naver Z, FriendsGames, A&T Capital, OKX Blockdream Ventures, Genesis Block Ventures, Kyros Ventures, ROK Capital, StableNode, PlayDapp, HG Ventures, Eric Zoo from Exnetwork Capital, Kwon Do and more.

KlayCity aims to shape the future of mirrored virtual worlds while also expanding its LandFi metaverse to a worldwide market beyond its home country of Korea. Jake Choi, the company’s CEO, has subsequently explained how the cash would be used: “With this funding from our key investors and partners, KlayCity will continue to create the virtual world with Land NFTs to enable users to come across a totally new experience in the crypto sector.”

The company’s main purpose is to expand its IP business in numerous industries related to KlayCity’s original tale.

The year 2080-set metaverse is made up of Land NFTs, which divide the KlayCity ‘earth’ into Districts modeled on real-life population centers. Owners of Land NFTs may stake their tokens to create $LAY tokens every 30 days depending on their Land NFT’s tier, as well as mint new Land NFTs by burning a set quantity of $LAY and $ORB tokens. Furthermore, the Klaytn Network-developed platform lets users to use NFTs, $LAY, and $ORB tokens in even more ways, as well as engage in numerous activities including scavenging, exploring, and leveling.

The presale for KlayCity Land NFTs has already taken place, with such assets being sold for 500 KLAY each on February 10th. On March 11th, District #684, which is presently actively traded on OpenSea, reached a price of 120,000 KLAY, which is 240 times more than the original minting price of 500 KLAY.

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