Miguel Cordon · · 1 min readSG GameFi firm secures seed money at $100m valuation
Singapore-based Polemos, a GameFi platform and play-to-earn guild, said it has raised US$14 million in a seed funding round at a US$100 million fully-diluted valuation. Investors in the round include Delphi, LD Capital, and Golden Tree.
Image credit: Polemos
The round makes it one of the fastest-growing entrants into the global GameFi industry, the company said in a statement.
On the guild front, Polemos bridges the gap between traditional and play-to-earn gaming by forming a global team of players ranging from beginners to seasoned gamers. Meanwhile, the company’s GameFi platform will be a decentralized combination of a marketplace, guild, and college governed by its own token, which will be released for public sale in the coming months.
The company said it will use the new funds to develop its tech platforms, which will be responsible for data analytics, educational resources for scholars, and the lodgment and leasing of NFTs. It also looks to ramp up hiring and invest in new play-to-earn games – including Illuvium, MonkeyLeague, and Fancy Birds.
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“With the growth of our platform, we expect to soon see thousands of guild members playing the most popular play-to-earn games,” said Sascha Zehe, co-founder of Polemos.
Editing by Deepti Sri and Lorenzo Kyle Subido
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