Ethlas secured $2.7 M in a venture round led by Coinbase and Grab executives
Ethlas, Singapore-based gaming finance (game-fi) blockchain firm, has raised $2.7 million in early investment from a number of investors.
Sequoia Capital India, Yield Guild Games Southeast Asia, Global Blockchain Innovative Capital, Venturra Capital, Play It Forward DAO, Blockchain Space, Genesis Fund, Deus Ex DAO, and Hustle Fund are some of the companies involved.
Grab, Coinbase, Switcheo, and CoinMarketCap executives were also present.
Ethlas was founded in November 2021 by four tech veterans, including Gennady ‘Ari’ Medvinsky of the United States and Elston Sam of Singapore, who previously worked at Google, Microsoft, Grab, and Airbnb. More than 20 blockchain engineers, game developers, data scientists, cybersecurity specialists, and designers from Singapore, the Philippines, and the United States now make up the company’s workforce.
Ethlas is a free-to-play, play-to-earn platform that allows novice gamers to win and exchange cryptocurrencies by playing basic, easy-to-understand casual games like Think Tetris, Candy Crush, and Bubble Popper.
Ethlas claims that its players merely need to download MetaMask, a software crypto wallet, or link their wallets to begin playing in the Ethlas metaverse on a PC or mobile phone’s browser, with no cumbersome onboarding restrictions or the need to pay a large membership fee.
The company will issue its first batch of non-fungible tokens (NFTs) named Komos, which will benefit both free-to-play players and crypto enthusiasts.
The Ethlas GameFi metaverse, which is based on the Polygon blockchain, claims to have over 100,000 crypto-wallet users worldwide as of the end of January 2022.
