Singapore is disrupting the utility of the blockchain, this time with the GameFi team behind Nexus World, Affyn, who are busily working on launching one of the most exciting Metaverse games, from both a gameplay and monetization point of view. Affyn is making waves in the GameFi arena, most notably for their successful fundraising rounds, which has seen them generate over $20 million from a variety of launchpads. With numbers like these, it seems certain that Affyn’s proposition will gain more traction.
Why is This Metaverse Different?
Affyn is soon to launch Nexus World, which is a Metaverse that combines real-world mapping overlaid to blockchain technology, so users can work their way around the world using their mobile phones while taking advantage of augmented reality. The world consists of a collection of Lands, each one represented by a unique NFT. Users can build or buy structures to place on their land, which they can then lease out, hold events on, or even publish advertising on.
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Affyn has added the layer of business-to-business monetization to complement their play-to-earn model, which sees users rewarded for gameplay. The game is free to play and users can collect NFT buddies, which they can enhance for use in head-to-head battles, quests and raids on other Lands. The B2B aspect means users can monetize their lands and structures by leasing them out and accepting advertising deals.
Affyn believes that the problem with the current play-to-win model is that it is unsustainable with regard to upflow to reward users. Whereas its model seeks to address this issue in order to see a fully sustainable, closed-looped economy.
The Fundraising Rounds
In December, Affyn conducted two oversubscribed fundraising rounds, which brought a total of $7 million, ahead of its presale. This was backed by over 50 VCs, institutional investors and partners. Then in January 2022, Affyn conducted its presale, which saw over 5700 participants contributing $10.4 million within 6 hours. Affyn has thus far generated close to $20 million for its platform within weeks of launching its website.