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.”

Via: https://www.cryptoninjas.net

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