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Singapore-based Affyn lands $20M to further develop its P2E mobile game “Nexus”

In “NEXUS,” you can explore and participate in activities based on your geolocation. As a player, you can capture and train what is called “Buddies.”

Image: Affyn

The metaverse is a developing industry that everyone wants their hands on. The money flowing in this sector is aimed at securing the first-mover advantage in the game & also gaining a dominant position in the space.

As metaverse, Play-to-Earn (P2E) games, and non-fungible tokens (NFTs) rule the market, Singapore-based startup Affyn raised $20 million over multiple rounds.

Its funding round comes right on the heels of its recent public listing. Before its latest funding round, the company also had a successful presale round that raised $10.4 million, along with oversubscribed private and strategic rounds.

These successful fundraising campaigns signal “strong confidence” in Affyn’s vision for Play-to-Earn Metaverse. “2022 will be unprecedented as we ignite the tech space by ushering in a new era of Metaverse,” said CEO and founder Lucaz Lee.

Affyn is currently building a blockchain-powered Metaverse project with a free-to-play, play-to-earn mobile game called “NEXUS,” whose trailer will be released this month. 

By leveraging augmented reality, geolocation technology, and blockchain technology such as NFTs, the company aims to create an ecosystem that integrates the best of both the virtual world and the real world. This metaverse is built on a digital layer that is mapped to the real world.

In “NEXUS,” you can explore and participate in activities based on your geolocation. As a player, you can capture and train what is called “Buddies.”

“Buddies” is a collection of NFT characters in the game, which are used to participate in player-versus-player battles, raids, and quests. Besides owning Buddies, you can also play with them interactively, and in the future, they may even be transferable to other games while retaining similar attributes.

The company is currently expanding its team and recruiting for engineering and game development functions for project development. 

The Affyn team spent over a year developing a closed-loop ecosystem with sustainability at the center of its game economy and a heavy emphasis on a broader long-term view.

As such, it is creating a system with multiple revenue streams such as an advertising revenue model as well as business-to-business collaboration.

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Chris has been blogging since the early days of the internet. He primarily focuses on topics related to tech, business, marketing, and pretty much anything else that revolves around tech. When he's not writing, you can find him noodling around on a guitar or cooking up a mean storm for friends and family.

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