Quick take:
- Eterlast has emerged from stealth with $4.5 million in funding.
- The blockchain startup wants to build web3 gaming experiences.
- The seed funding was backed by Immutable X, Supernode Global, Play Ventures, Active Partners, Stake Capital, and Founders Factory.
Eterlast has emerged from stealth with a $4.5 million funding round backed by Immutable X, Supernode Global, Play Ventures, Active Partners, Stake Capital, and Founders Factory. The blockchain startup will use the funds to build NFT gaming experiences.
The company said on Tuesday that for the next twelve months it will focus on building its user base and securing more brand partnerships.
A blockchain game is a gaming experience that allows players to earn cryptocurrency and non-fungible tokens (gaming assets like weapons, characters, and skins) from their playing activity.
Blockchain games have emerged as one of the most attractive options for onboarding masses onto web3 (a next-gen internet powered by blockchain technology that prioritises user privacy, decentralisation and trustless communication systems).
Whilst developers have come up with exciting applications that promote user-centric communities, web3 startups still face the challenge of onboarding masses to their platforms. To address this issue, collaborations with web3 consumer-facing platforms have become a key aspect of the industry.
Eterlast’s sporting and media franchise partners provide it with access to massive communities. The company collaborates with brands to develop NFTs for their consumers, which can be used as part of gaming experiences.
Some of its partners include iconic boxing promoter Frank Warren’s Queensberry Promotions and the UK-based trade union organisation Rugby Players Association.
Eterlast is already in the process of developing blockchain gaming experiences based on the sports of rugby and boxing in collaboration with its two partners, with more arriving soon despite the crypto downturn.
“We understand NFTs not as a product, but as a technology that enhances the experience of current use cases around gaming, collecting, and experiencing live events. With that view, we are building holistic ecosystems that bring those three elements together,” said Eterlast founder and CEO, Joan Roure.
The NFT gaming startup emerged from the UK-based Founders Factory’s accelerator program and also has offices in Barcelona.
Supernode Global’s Oli Strong commented: “The team have done a fantastic job to date, securing impressive partnerships and IP to integrate with their platform. In our view, there is a huge opportunity at the intersection of Sport and Web3 and Eterlast is uniquely positioned to capitalise on this.”
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