Korean blockchain gaming firm raises $3.1m in funding

Monoverse, a Seoul-based blockchain gaming company, has raised US$3.1 million in funding through an investment from the Korea Real Estate Investment and Trust.

The Frutti Dino game | Photo credit: Monoverse

Monoverse is the developer behind Frutti Dino, a play-to-earn, non-fungible token game that has over 100,000 participants globally.

Noting its plans to enhance Frutti Dino, the company said it will use the funding to further expand in the blockchain gaming space. It is looking to onboard traditional and NFT-based third-party games onto Entropy, a platform where game developer studios can migrate games onto the sidechain.

Earlier this year, Monoverse launched Frutti Dino NFTs on Binance, the global cryptocurrency trading platform, allowing the use of the digital assets outside the game.

See also: Inside an “NFT Factory” that’s shaking up GameFi

Following the fundraise, Monoverse also announced a partnership that would help game development studio Gametopia move its games to the Entropy blockchain and include NFTs into its game design.

Without disclosing the amount, Monoverse in February said that it had raised funds from online game publisher Neowiz.