Susquehanna Leads $10M Funding in Metaverse Platform StarryNift

The pre-Series A funding round included Binance Labs, Alameda and other crypto-centric investment teams.

AccessTimeIconMay 10, 2022 at 9:39 a.m. UTC
Updated May 10, 2022 at 2:24 p.m. UTC

Shaurya is an analyst/editor for CoinDesk's markets team in Asia.

Metaverse co-creation platform StarryNift raised $10 million in a funding round led by Susquehanna International Group, the firms said in an emailed announcement.

Other investors in the pre-Series A round included Binance Labs, BSC Fund, Alameda Research and GBV Capital. Susquehanna is one of the earliest and largest investors of ByteDance, the Chinese parent of TikTok.

StarryNift allows players and commercial users to create, auction, trade and play with unique non-fungible tokens (NFTs). Alongside items that can be used digitally, players can also customize their avatars and farm rewards from participating in and contributing to the development of the project.

“The uniqueness and irreplaceability nature of NFTs enables digital content to become assets, and the game is one of the most compatible digital content with NFTs,” explained Lv Nan, an investment manager at Susquehanna who has joined StarryNift's board of directors. “Game tokens, equipment and pets can be digitized and created as a digital currency.

“With the fusion of NFTs into games, players continuously earn rewards and become more involved, making NFT games more engaging and sustainable,” he said.

StarryNift will be holding its Anniversary Carnival later this month with the launch of a metaverse called Starryverse, a marketplace, a spaceship expedition game and other features.

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Shaurya is an analyst/editor for CoinDesk's markets team in Asia.

CoinDesk - Unknown

Shaurya is an analyst/editor for CoinDesk's markets team in Asia.

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