Capital gathered on GameFi platform Mirror World

On March 11, a US$4 million financing of the GameFi platform project Mirror World attracted more than ten capitalists.The list of investors includes not only familiar faces in the circle such as YGG SEA Chain Games Association and OKX Blockdream Ventures, but also traditional venture capital institutions such as Galaxy Interactive, which focus on game tracks.

From the introduction on the official website, Mirror World is positioned as an interconnected and interconnected Metaverse game world. After a user owns a Mirror NFT character, he can travel between games connected to it, and NFTs such as equipment and props obtained in different games of Mirror World can also be used across games.

Another major feature of Mirror World is “NFT intelligence”. The project adopts the smart NFT technology of AI startup rct AI. Simply put, when existing NFTs are combined with AI technology, they can intelligently interact with players in the game world. Ideally, these virtual NFTs can actively adjust their behavior according to changes in the environment.

More than a dozen investment institutions gathered in Mirror World, not only showing optimism about the project itself, but also means that the institutions reached a consensus on the development prospects of NFT and GameFi tracks.

In fact, in addition to investment institutions in the crypto circle, traditional capital giants such as Sequoia Capital, Tiger Fund, SoftBank Investment, and Goldman Sachs Investment all have different degrees of deployment in the NFT and Metaverse fields. When these keen investment institutions gather together, they have become the vane of trend change.

Mirror World has received more than ten institutional investments

On March 11, Eastern Time, GameFi project Mirror World announced the completion of a $4 million seed round of financing. Although the amount of this financing is not large, there are more than ten investors.

The leading investors of this financing are Galaxy Interactive, an interactive entertainment investment institution, Republic Crypto, and Alameda Research, a quantitative fund in the encryption field. There are also well-known guilds YGG SEA and Avocado Guild on the GameFi track, as well as OKX Blockdream Ventures, a fund under OKX. In addition, several institutions including Infinity Ventures Crypto, LD Capital, Sky9 Capital, Metasense DAO, and Nihil Ventures participated in the investment.

A total of 4 million US dollars in financing has attracted so many institutional investments, which means “more monks and less porridge”. What is the origin of the Mirror World that institutions rushed to vote?

According to the official website, Mirror World is a blockchain-based virtual world. It is not a game. It can be understood that it has a Metaverse platform with a game matrix. The reason why Mirror World is so positioned is to see that after a single GameFi game loses its appeal, the in-game assets will also depreciate until no one cares.

Mirror World hopes to connect different games and experiences, allowing users to travel through different game scenarios, and have interconnected and independent economic systems. For example, NFTs such as equipment and props obtained by users in different games of Mirror World can be used across games; when a player has an NFT character of Mirror World, it is equivalent to having a character who can play all games, although each The gameplay and scenes are different, but the characters can move freely.

In the existing game world design, Mirror World includes an ARPG game “Mirrama” that combines role-playing gameplay, a PVP-based relaxed and casual arena duel game “Brawl of Mirrors”, and an SLG strategy game. According to reports, after the completion of this seed round of financing, Mirror World will fully build and accelerate the official launch of these three games.

Prior to September 2021, Mirror World had taken the lead in releasing NFT characters that could be used in games, with a total of 11,000 Mirror NFTs, which can be used across multiple games on the platform.

Capital gathered on GameFi platform Mirror World

 Mirror World Series NFTs

In addition to the attributes of interconnection and interoperability, another major feature of Mirror World is the use of AI technology. In short, it can make NFTs intelligent, which means that virtual creatures in the game can be “life-like” and interact with players. interact.

This “smart NFT” technology is realized by relying on rct AI, a startup incubated by Y Combinator. In November last year, Mirror World launched the first artificial intelligence dialogue chip NFT-Soul based on this. According to the introduction, each Soul NFT can be tied to existing NFTs, bringing them to life. Ideally, combined with artificial intelligence technology, these virtual NFTs can actively adjust their behavior according to changes and talk to players.

Just imagine that when the player is playing the game, the NPC (non-player character) in the game no longer completes the dialogue task mechanically, but can interact with the player intelligently, and the immersive experience of the game will also be greatly improved.

This smart NFT technology has already been applied. At the end of last year, well-known NFT projects such as Cryptopunks and Bored Ape can already be combined with Soul NFT for intelligent upgrade of NFT; in January this year, NFT project AgeofZ introduced Soul NFT mechanism to make its NFT role more interactive, immersive and attractive.

Game interoperability and the concept of intelligent NFT make Mirror World unique in the GameFi sector, which is obviously an important factor in its popularity from many capitals.

NFT attracts all kinds of capital to run and enter

In the investment camp of Mirror World, the background of some investors is also worthy of attention. In addition to familiar faces such as YGG SEA, Avocado Guild and other chain game associations and crypto funds, there are also venture capital institutions such as Galaxy Interactive, which focus on interactive content and technology companies.

According to the data, Galaxy Interactive was established in 2018 and is a subsidiary of digital asset bank Galaxy Digital. The fund focuses on VR/AR, AI and blockchain-based games. Strictly speaking, it is not purely cryptographic capital, but an investment in all “interactive technology industries” that use new-generation technologies to enhance interactive experience.

Galaxy Interactive co-founder Sam Englebardt describes the next-generation interactive technology industry as “the intersection of content, finance and technology” and believes the technology will drive considerable economic growth. As such, the company is particularly focused on digital collectibles and building a Metaverse, and Englebardt sees NFTs as the foundational pillars for building an immersive internet.

According to incomplete statistics, Galaxy Interactive has invested in more than 75 companies in the past three years, and the company’s assets under management exceed US$650 million. In addition to investing in Mirror World, the agency has invested in startups such as Republic, 1047 Games, rct AI, Elodie, Roar, Art Blocks, and Masterworks.

In fact, as GameFi, NFT and Metaverse become new trends out of the crypto world, more and more traditional capital and emerging capital have begun to focus on this track.

On February 17 this year, Sequoia Capital, a well-known venture capital firm, launched an independent crypto investment fund, its first industry-specific fund since its inception in 1972. Maguire, a partner at Sequoia Capital, believes that crypto assets will be the biggest trend in the next 20 to 30 years.

In the past year, Sequoia Capital has invested in a number of NFT-related projects including the Solana chain game developer Faraway, and the cricket NFT platform Faze Technologies. In addition, the institution also targets Layer2, DeFi, Web3 A number of investments have been made in such fields. In December of last year, Sequoia also minted the original YouTube investment memorandum in 2005 as an NFT and auctioned it on OpenSea to commemorate YouTube’s place in the evolution of the Internet.

Sequoia is not the only capital predator that values ​​NFT and the Metaverse track. In January of this year, Tiger Global invested $10 million in Unblocked, an NFT platform on the Flow public chain, and in November last year, it also invested in Faze Technologies, a cricket NFT platform.

Since last year, SoftBank Investment has also made a big push into the crypto industry. In addition to investing in the crypto asset trading platform FTX, it has also invested in Sorare, a football NFT collectibles platform, and the NFT sandbox game The Sandbox.

In addition, Insight partner, Coatue, Lightspeed Venture Partners, Goldman Sachs and other traditional investment institutions established in the last century have also embraced the two encryption fields of NFT and GameFi.

Judging from the historical process, these experienced capital giants can always stand at the forefront whenever a major technological innovation occurs in the world. Today, all kinds of traditional capital and emerging venture capital are gathered in the field of NFT and Metaverse, which will become the vane of the trend to some extent.

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