UAE-based gaming platform Zone raises $2.35mn in latest funding round

By Shilpa Annie Joseph, Desk Reporter
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UAE-based gaming and decentralized finance (gamefi) ecosystem Zone has raised $2.35 million in its latest funding round.

According to the startup, the funding round was led by the investors such as DAO Maker, GSR, Altonomy, Enjinstarter, SuperLauncher DAO, MH Ventures, ZBS Capital, Tag Ventures, K300 Ventures, and others.

The latest funding brings the total amount raised by Zone till date to $4.35 million. The investment announcement came shortly after Zone announced its Public Initial DEX Offerings (IDO) launch on Equinox.

“While preparing for the IDO, Zone has been quick to onboard advisors Sebastien Borget, co-founder & COO of The Sandbox, and John Linden, CEO of Mythical Games,” as per the company.

Adi K Mishra
Adi K Mishra
Founder – Zone

“We see Zone as proof that Algorand is the future of gamefi. The market now has a gamefi ecosystem that supports everything from Web2/Web3 games, gaming guilds, upgradable NFTs to fantasy sports, all without very high gas fees that discourage user adoption. Institutional investors can see where the market is shifting, and this proves that. We have been building this play-to-earn space with Zone and it has been really exciting to work with the Algorand Foundation and our advisors to bring this out to the community.”

“Zone will allow users to challenge their friends with ZONE/ALGO tokens in games such as Chess, Clash Royale, League of Legends, DOTA 2, and so on. We know the community has patiently waited for ZONE and we are grateful for their support,” Mr. Mishra further added.

The Zone has been on the Algorand testnet since November with blitz chess on its platform. The testnet allows users to challenge their friends in a chess match with ALGO, completely on-chain, giving them a taste of what’s to come, the company added.

Related: Mubadala, AD Gaming unite to develop gaming & esports ecosystem in UAE