India's Play-to-Eearn gaming startup introduces Token on the heels of the fundraising campaign
India's Play-to-Eearn gaming startup introduces Token on the heels of the fundraising campaign
- The company tries to conquer the market in India before expanding to other countries
- The startup earns money by invoicing the players of up to 9 % for crypto transactions
A mobile play-to-ear-gaming platform that gets involved in India has revealed the token that drives its ecosystem, fresh from a recent round of financing.
It is one of several blockchain-based gaming startups that collect money because institutional investors try to benefit from the potential of Web3.
The Rush Gaming Universe, essentially a subsidiary of the new-delhi-based crypto startup Hike, is working on relocating his company and gameplay by the end of the year, CEO Kavin Bharti Mittal told Blockworks.
The last round of financing by Rush Gaming was headed by Jump Capital. Other investors, including Republic Capital and Tribe Capital, also participated. The size of the round was not announced, but follows an earlier fundraiser under the direction of polygon.
Part of the funds is intended for new hires, including economists, engineers and mathematicians.
The startup recently launched its flagship token Rush. Mittal shared this with White paper with block works. The ecosystem runs on the polygon blockchain, whereby it is planned to make the platform multi-chain-compatible in the future.
The idea behind the token is to increase how often players play rush games, with a already healthy appetite in the fact that the startup has already released more than $ 90 million in profits in a little more than a year since its off-chain start. These profits were divided between players in 10 different games.
"We enter a new gaming era in which the players will take part in a new type of game economy in which they are also owners of the networks and economies that they help shape," says the white paper. "Due to the performance of smart contracts, players now have the opportunity to play games and to generate digital assets based on the result of the game and become real owners."
The key to this project lies in the production of games that are really fun - including sharp graphics, solid storytelling and innovative gameplay.
While crypto-native play-to-ear-game designer theoretically have an advantage over blockbuster-AAA game developers who work on crypto-based projects, the gameplay of many of the results fades compared to those created by older game studios.
"The crypto audience takes care of making money," said Mittal. "But what about the real players who love to play fantastic games? Let us go out of this perspective and first play a few fun games that people love."
To play, buy rush players NFTS who serve as avatars-which can be traded and updated on the secondary market. Players pay Fiat-Indian rupees-used to buy rush tokens that serve as governance tokens. Players can also use rush to earn rewards.
The ecosystem comprises the platform wallet. Plans for a decentralized exchange are in progress, and a decentralized autonomous organization (DAO) is also possible. A meta -verson with virtual property sales is also being planned.
The company earns money by calculating a share of play-to-ear transactions: up to 9 % on the rush token gameplay, plus up to 9 % on NFT purchases (not fungible tokens).
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The contribution India’s Play-to-Earn Gaming Startup Launches Token On Heels of Fundraise is not a financial advice.