Market prediction dApp PlotX secures $5M in seed funding

PlotX, a prediction-based GameFi market ecosystem built on Polygon where users predict the outcome of real-world events to earn rewards every hour, has announced that the project has secured a $5 million pre-Series A funding round and grant-led by Polygon Studios and Hashed. The funding round saw participation from multiple notable investors including Polygon Studios,…
Market prediction dApp PlotX secures $5M in seed funding

PlotX, a prediction-based GameFi market ecosystem built on Polygon where users predict the outcome of real-world events to earn rewards every hour, has announced that the project has secured a $5 million pre-Series A funding round and grant-led by Polygon Studios and Hashed.

The funding round saw participation from multiple notable investors including Polygon Studios, Hashed, Animoca Brands, Alpha Wave Global (formerly Falcon Edge), and power angels including Sandeep Nailwal (Co-Founder of Polygon) and Alan Howard (Co-Founder of Brevan Howard Asset Management).

Since its inception, the PlotX community has grown to over 83,000 paying users verifiable on-chain, with a growth rate of 144% month-over-month. Further, over the last 7 months, PlotX has crossed $4.1M GMV, growing 59% month-over-month. The PlotX team also reports that 70% of this GMV is from retail users. Moreover, 21,555 people have become token holders.

Near-Term Roadmap for PlotX

  • PlotX Play2Earn: To launch a Play2Earn variant to complement the current Predict2Win game. This will provide users an opportunity to convert their time into money, and create a sustainable economy for the PlotX gaming ecosystem.
  • New Features: Over the next few releases, PlotX will unveil multiple core gameplay features such as PvP battles, individual avatars, NFTs with special abilities, leaderboards, user level-up systems, daily/weekly quests, and more.
  • Staking Program: PlotX will be launching a new staking program to reward the community with bPLOT and MATIC tokens.

Investors Comments

Sandeep Nailwal, Co-Founder of Polygon:


“PlotX has found the holy grail of Product-Market-Fit. I’ve seen their journey in the crypto ecosystem since 2017 and it is phenomenal to see the growth of PlotX. We are rooting for PlotX to be India’s Axie Infinity, powered by Polygon, and are very excited to partner with the team!”

Yat Siu, Co-Founder & Executive Chairman of Animoca Brands:


“PlotX has been building infrastructure for scalable Web 3.0 skill-based gaming, and its embedded wallet, meta-transaction relayers and solid core game loop already provide a solid user experience. We are thrilled to support the team in its vision to build the most sustainable GameFi ecosystem for emerging economies.”

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Tether stablecoins now available on the Tezos blockchain ecosystem
Read More

Tether stablecoins now available on the Tezos blockchain ecosystem

Tether welcomes the Tezos ecosystem to its USD $72 billion network and is now available on 12 blockchain networks... Related News Tether, the company operating the blockchain-enabled stablecoin platform, announced it has now launched the Tether token (USDt) on Polygon (formerly MATIC), the Ethereum blockchain scaling and development platform. The addition of Tether to the...…
21Shares chooses Copper to secure its cryptocurrency ETPs
Read More

21Shares chooses Copper to secure its cryptocurrency ETPs

21Shares, an issuer of cryptocurrency exchange-traded products (ETPs), today announced Copper will provide crypto-asset custody and staking services to secure the underlying assets of its cryptocurrency ETPs amidst increasing interest from institutional investors.Copper’s custody, which uses Multi-Party Computation (MPC) technology, creates three separate key shards rather than one private key to largely eliminate the risk…
South African crypto exchange Xago adds neuromorphic biometric tech to authenticate clients
Read More

South African crypto exchange Xago adds neuromorphic biometric tech to authenticate clients

Xago, a crypto exchange services company based in South Africa, has announced the launch of their mobile application which includes neuromorphic biometric technology to authenticate clients. The mobile app uses advanced (future generation) neuromorphic computing technologies to simulate human cognition – how the brain naturally and instinctively recognizes people.  The result is a more secure…
Actant trading software connects to cryptocurrency exchange Bybit
Read More

Actant trading software connects to cryptocurrency exchange Bybit

The new partnership with Bybit allows Actant users to trade and clear on Bybit... Related News Bybit, a cryptocurrency exchange platform established in March 2018, announced today that the Walken protocol, an all-in-one product based on the Walk2Play-Win2Earn concept, will launch on June 20th in partnership with Bybit as the... Read more Sumsub, the identity…