Shadine Taufik · · 2 min readSG GameFi firm partners with Canada startup to boost metaverse efforts
Ethlas, a Singapore-based GameFi firm, has partnered with Canada-based LayerZero Labs to enable the former’s metaverse to be accessed by users across other blockchains. This is one of the first efforts by a startup to implement such a system.
The Ethlas team / Photo credit: Ethlas
This project will make Ethlas available on popular blockchains such as Ethereum and enable users to move tokens between ecosystems, allowing money to be transferred from one chain to another.
Developers on other blockchains will also be able to create decentralized apps on Ethlas, including those that use avatars through non-fungible token (NFT). Ethlas already partners with several NFT projects and offers a plug-and-play experience. Its latest tie-up will allow users from different Web3 metaverse communities to play against each other, said Ethlas.
Since launching in November 2021, Ethlas has gained 500,000 players on its metaverse platform. The startup was founded by former Grab employees Elston Sam, Gennady Medvinsky, and Henry Foo.
LayerZero was established last year by Bryan Pellegrino, Ryan Zarick, and Caleb Banister as a way to unite the currently fragmented blockchain systems. The firm turned into a unicorn in March after closing a US$135 million funding round.
The Web3 market is set to hit US$81.5 billion in value by 2030 at a compound annual growth rate of 43.7%.
Editing by Samreen Ahmad and Arpit Nayak
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