Spellfire Completes Seed Funding Round – Terranova, x21, Autonomy Capital Among Top Investors Onboard

Spellfire Completes Seed Funding Round - Terranova, x21, Autonomy Capital Among Top Investors Onboard sponsored

Spellfire, a legendary card-based NFT game powered by Ethereum and incorporating some unique features, has successfully completed its seed funding round.

Terranova, x21 and Autonomy Capital have led 360,000 USD investment into the project, with more investors eyeing spellfire’s incoming private round.

Spellfire has some unique features which make it stand out among its peers in the industry. NFTs acquired are digital and physical, making it the first NFT based game that allows owners to touch their NFTs. Special NFTs have an “Augmented Reality” feature allowing the owners to interact with their NFTs using gestures. NFTs will be upgradable. Players can create their own NFTs with unique characteristics.

Spellfire includes a P2E mechanic which allows owners to generate revenue from their NFTs and from playing the game, with 200,000,000 tokens being distributed through in-game rewards: Tournaments, Special collections, Achievements, and 90 percent of NFT generated profits going directly back to the owners.

NFTs have been gaining massive interest from investors; the industry has seen a growth of 2100 percent in the first quarter of 2021 compared to the previous quarter, according to CrunchBase, marking 2 billion USD in revenues. In July of 2021, the industry saw a massive 1.5 billion USD influx, more than half of the accumulated gains of the year’s first quarter.

P2E games have had similar success. According to the latest report published by the Blockchain Game Alliance (BGA), more than 804,000 unique users have played on one or more of the available Playtoearn (P2E) gaming platforms, increasing the market for unique and active wallets by 121%.

Find out more about spellfire here.

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