Home Crypto Binance AlterVerse Secures Funding from Binance Labs

AlterVerse Secures Funding from Binance Labs

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Following completion of the Binance Labs Incubation Program, the metaverse developer has received funding from Binance Labs, Polygon Ventures, Ankr, and others

AlterVerse, the developer of an expansive metaverse game experience, today announced that Binance Labs, the venture capital arm and accelerator of Binance, is an early participant in its private funding round. Additional support for the ongoing raise came from Polygon Ventures, Ankr, Baselayer Capital, and EnjinStarter.

“AlterVerse is a beautiful amalgamation of real-world experiences and high-end gaming in the metaverse,” said Shashwat Gupta, Co-founder of Baselayer Capital and CEO & Founder of Altcoin Buzz. “The vision and scale of the project is impressive, and what has already been developed is stunning. I look forward to continuing to support the AlterVerse team on this journey.”

The funding was conducted via $ACE, a new token based on BNB Chain which will be used for transactions and in-game currency in the AlterVerse. This announcement follows AlterVerse’s recent completion of the Binance Labs Incubation Program, in which it was one of 14 projects selected from a pool of over 500 applicants, as well as the Altcoin Buzz Labs incubator.

With plans for alpha launch in Q4 2022, AlterVerse has released a pre-alpha build of Sky City, the central hub of the AlterVerse. Built on Unreal Engine 5, Sky City is the project’s first world in what will be a metaverse of interconnected servers owned and operated by players.

Along with the successful incubator, AlterVerse has now secured over 75 partnerships, including Razor scooter, digital sports fashion platform Fancurve, X Rocker gaming furniture, Hugh Jackman’s Laughing Man Coffee, and Members Only. The team has also been working with long-time partner Enjin to integrate Efinity, the first Polkadot parachain dedicated to NFTs.

AlterVerse is led by a team of industry veterans who have worked with some of the world’s most prominent gaming and entertainment brands, including Activision, Blizzard, Sony Playstation, Respawn Entertainment, GameStop, Gameworks, and E3, and worked on titles such as God of War, Call of Duty, Titanfall, Overwatch, and Apex Legends.

The multi-world project will launch in four phases, starting with Sky City. Sky City will be followed by the shooter title OutPost, hardcore survival game Rekt, and finally the decentralized server platform featuring “Metaservers,” which can be owned, operated, and customized.

“AlterVerse is building at the forefront of metaverse gaming,” said Shitij Gupta, Co-founder of Baselayer Capital. “We love their team’s vision and passion to build an unprecedented decentralized gaming experience, and we’re proud to support them in making this vision a reality.”

Despite challenging market conditions, the blockchain gaming industry is growing at a rapid pace. According to a report published by DappRadar and the Blockchain Game Alliance, Web3 games and metaverse projects raised $748 million in August 2022 alone, with an average of 847,000 daily Unique Active
Wallets (UAW) interacting with blockchain games.

Users interested in experiencing the Sky City demo or participating in the ACE private round can contact the AlterVerse team at [email protected]

About AlterVerse, Inc.
The AlterVerse is an immersive metaverse gaming experience with interconnected worlds, communities, and games. Built with Unreal Engine 5, the multi-world project features AAA graphics and will launch in four phases: Sky City, the central hub of the AlterVerse; first-person shooter Outpost; hardcore survival game Rekt; and Meta Servers, a decentralized platform featuring servers that can be owned, operated, and customized. $ACE is the native token of the AlterVerse, used for in-game transactions, currency, and player rewards. For more information, visit alterverse.com.

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S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.