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Solana-Based Game Raises $4.1M to Teach You How to DeFi

DeFi Land is a farm simulator teaching the basics of decentralized finance. Can it be a game-changer for new crypto users?

Sep 9, 2021 at 1:31 p.m. UTC
Updated Sep 9, 2021 at 2:23 p.m. UTC

DeFi Land, which aims to gamify the concept of decentralized finance (DeFi), has raised $4.1 million in its first funding round.

The game, which is built on the Solana blockchain, is set to launch later this year with a test version becoming available to investors next week. It comes as “play-to-earn” surges onto the crypto scene, propelled by breakout hits like Axie Infinity and its dedicated audience of gamers-turned-metaverse entrepreneurs.

Over 40 investors participated in the funding round, including Animoca Brands, Alameda Research, Jump Capital and NGC Ventures. The round also included investments from the Solana Foundation, Gate.io and others.

“Game development is no joke,” the company’s project lead, who goes by the avatar name DFL Erwin, told CoinDesk. “Marketing will be crucial, and we are trying to bring retail to DeFi, which will require a lot of resources.”

DeFi Land is a farming simulation game bringing key elements of DeFi together, hoping to spread the concept to a mainstream audience. The game also includes a collection of non-fungible tokens (NFTs) with each representing a unique game object, such as a tree or building.

“DeFi Land is an incredible blend of the two most interesting things happening in crypto right now – gaming and DeFi,” trading firm Alameda’s Brian Lee told CoinDesk via email. “We believe that [it] can be a real game-changer in getting casual gamers and crypto retail traders into DeFi.”

The first version of the game will be in English, but the company is partnering with different brands and investors from Vietnam, China, South Korea and Japan to specifically target the Asian market, which has the biggest gaming community in the world.

Last month, Philippines-based Yield Guild Games, a key player in the Axie Infinity ecosystem, secured a $4.6 million investment led by venture capital firm Andreessen Horowitz (a16z).

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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