Home Cryptocurrency Elfin Kingdom Secures $5.25M in Private Funding Round Co-Led by Binance Labs and Alameda Research

Elfin Kingdom Secures $5.25M in Private Funding Round Co-Led by Binance Labs and Alameda Research

by Gordon James

Ariel has been a leader in the blockchain gaming space for years, breaking new ground as one of the first game developers to integrate decentralized economies into its games. Recently it secured $5.25M in private funding from Binance Labs and Alameda Research with plans to use that capital towards building out its next title on multiple platforms, including PC and mobile devices.

Elfin Kingdom Secures $5.25M in Private Funding Round Co-Led by Binance Labs and Alameda Research

 

Chainwire, Rio de Janeiro, Brazil, December 23, 2021

The GameFi market’s growth within the crypto ecosystem has been phenomenal in the last year, with all signals pointing to a higher trajectory in the near future. As a result, Kingdom of the Elfin, one of the most promising ventures in the play-to-earn industry, has announced the successful completion of its $5.25 million private and strategic sales round.  

This investment round, headed by Binance Labs, included strategic contributions from important players like Alameda Research and noteworthy guilds like Merit Circle, GGG, and Bayz, as well as strategic contributions from key players like Alameda Research and significant guilds like Merit Circle, GGG, and Bayz.

Elfin Kingdom is a one-of-a-kind play-to-earn platform that combines the finest of DeFi (decentralized finance) and GameFi (game finance) into a single gaming metaverse. 

Users have the ability to catch Elfins on their amazing excursions in the Elfin Kingdom. Elfins come in a variety of forms and talents, and players may feed, combat, and mine them to modify their appearance and abilities and progress to higher levels.

Providing financial education to the general public

Elfin Kingdom’s engaging and interactive game concept promises to make financial education less scary and simpler to understand for the people, while also giving chances for users to supplement their wages, with a heavy emphasis on Latin American and Southeast Asian economies.

The platform is presently based on the Binance Smart Chain (BSC) network, with ambitions to interface with additional high-throughput, low-transaction-fee networks in the near future, such as Solana.

“We are at an exciting moment of blockchain technology where P2E games are now giving a realistic employment choice for millions of players across the world,” says Juan Ibagon, CEO of Elfin Kingdom. Our team is convinced that this amount of funding will help us scale our platform and accelerate our go-to-market strategy, all while improving the lives of people in poor countries.”

“Elfin Kingdom is a GameFi project with great potential,” stated Brad Lim, Binance Labs’ Investment Director. Elfin Kingdom presents a new kind of GameFi that combines DeFi; in the future, players will be able to stake associated DeFi project tokens for additional advantages inside the games. Elfin Kingdom, we feel, can offer a ‘free to play’ paradigm to this sector.”

Elfin Kingdom intends to launch in the first quarter of 2022.

Elfin Kingdom Information

Elfin Kingdom is a GameFi project that combines decentralized financial yield farming, non-fungible tokens, and gamified aspects in a play-to-earn platform that allows players to acquire, fight, and farm their crypto to earn more.

In Elfin Kingdom, players pick their own roles and determine how to best use all of the available resources. Every job may optimize their revenue with a sophisticated plan thanks to a built-in banking system.

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