The developer of the move-to-earn augmented reality game, DEFY Labs, has raised US$3.5 million in a seed round to invest in team expansion, game development, and enhancing the app’s AR features.
The funding round was led by Animoca Brands, OliveX, and Spartan Group. Polygon Studios, GameFi Ventures, Bixin Ventures, Unanimous Capital, PathDAO, and Play It Forward DAO also participated in the round.
DEFY’s gameplay incorporates hacking missions, requiring users to explore their physical surroundings through the app’s AR-powered features. They then obtain rewards in the form of cryptocurrency and NFTs. The company is planning to launch the alpha version of the app in mid-April.
The game combines augmented reality, location-based interactivity, and hyper-casual code-breaking and hacking missions to deliver a unique experience to the users. The gameplay features a Robin Hood-style revolution that pits the players against an evil tech conglomerate. The game’s core objective is to encourage players to explore their physical surroundings by rewarding them with in-game rewards, distributed as cryptocurrency and NFTs.
The company is currently conducting its first Virtual Private Mask NFT sale. Mask holders will make up the first batch of players for the game and obtain unique benefits, such as early token claims and the chance to shape the game’s development.
“With a dynamic team that believes in the potential of merging physical activity, mobile gaming, and Web3 rewards, DEFY Labs is combining augmented reality with exploration and gamification to create the first-ever move-to-earn AR game that is in a genre of its own. Our early investors believe in our vision to change how mobile gamers interact with the world around them,” said Ben Pember, CEO and Co-Founder of DEFY Labs.
Follow us on LinkedIn
Read other Articles