Binance Labs leads seed round for Ultiverse to expand Metaverse offerings

Binance Labs, the venture capital arm and innovation incubator of Binance, is pleased to announce it led the seed round for Ultiverse, to build a Web3 social gaming metaverse with BNB Chain together. The fund will be used to develop the product, attract top talent and further grow the community.

Ultiverse is working on connecting web3 with a VR-compatible virtual world that will be home to the first AAA blockchain game. As a first-of-its-kind MetaFi, Ultiverse’s tokenomics encourages mutually beneficial relationships among ecosystems, where players could benefit from building the community.

The world of Ultiverse will allow players to import their own NFTs from multi chains for use in the virtual world, and also support NFT and land customization. The appearance of NPCs will be adjusted through players’ actions AI track, which brings an immersive gaming experience.

Frank Ma, the CEO of Ultiverse, said, “We’re excited to grow Ultiverse along with Binance Labs and BNB Chain ecosystem, as we share a common vision of Web3 gaming metaverse. I am confident that Ultiverse will be the proof-of-concept that both Web3 and gamers have been clamoring for. We’ll do this by providing intricate virtual worlds and, more importantly, ways in which these worlds can be interacted with and affected in a truly collaborative way.” 

Nicole Zhang, Investment Director at Binance Labs, said: “ MetaFi is always a sector that we are active in. We believe Ultiverse can bridge between Metaverse gaming and ‘traditional gaming.’ and bring more innovations to the community and industry.”

“Blockchain games are still in their infancy. The first generation of GameFi has been predominantly simple card-based games, and AAA games with high quality are in great need. Thus BNB Chain is more than pleased to support projects like Ultiverse to unlock the full potential of Gamefi.” said  Gwendolyn Regina, Investment Director at BNB Chain Fund.

Ultiverse will launch in tandem with its first internal game, a 3D MMORPG Play-To-Earn title with a realistic ecosystem that different roles of players need to cooperate or compete with each other.

The seed round for Ultiverse is co-led by Defiance Capital, and the other investors include Three Arrows Capital and SkyVision Capital.

“DeFiance Capital is extremely thrilled  to back Ultiverse team who have a stellar track record building top tier games on Unity and Unreal Engine 4.“ said Arthur Cheong, Founding Partner at DeFiance Capital: ”We are also particularly excited for their first game, Endless Loop, a Triple A MMORPG. A genre DeFiance is particularly bullish on due to its potential to create an immersive metaverse.”

“By combining next-gen visuals, incredible in-game dynamics and collaborative gameplay between players in an ever-evolving virtual world, the MetaFi approach of Ultiverse makes them well positioned to exceed the perceived limitations of what we thought was possible with gaming in the metaverse,” said Kyle Davies, Co-Founder of Three Arrows Capital.

About Ultiverse

Ultiverse is building the social gaming metaverse that connects Web3 with an immersive VR-compatible virtual world. By empowering players of various economic abilities to build mutually beneficial relationships, Ultiverse is aimed at creating a first-of-its-kind MetaFi.

Check out their Twitter handle for more news and information regarding the platform.

About Binance Labs

Binance Labs identifies, invests, and empowers viable blockchain entrepreneurs, startups, and communities, financing industry projects that help grow the larger blockchain ecosystem. Binance Labs is committed to supporting fast-executing teams who positively impact the crypto space.

About BNB Chain

BNB Chain is a community-driven, decentralized and censorship-resistant blockchain, powered by BNB. It consists of BNB Beacon Chain and BNB Smart Chain (BSC), which is EVM compatible and facilitates a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem. For more information on BNB Chain visit https://www.bnbchain.world

Disclaimer: This is a paid post and should not be treated as news/advice.