First round of financing: NFT trading platform Lootex raises money from investors | news

• Financing round raises Lootex $ 9 million

• Lootex operates Metaverse marketplace for video game NFTs

• Marketplace supports over 12,000 NFTs

Lootex has completed its round of financing and claims to have received nine million US dollars from investors. The Taiwanese marketplace for non-fungible tokens (NFT) claims to operate a metaverse marketplace for video game assets. This would allow video game users to buy and sell items across different blockchains. Numerous investors such as Spartan Capital, Infinity Ventures Crypto, LD Capital and Akatsuki Inc. participated in the funding round. But other companies like Polygon Studio, HTC and Huobi Ventures were also among the participants. Some companies are convinced that Lootex will help the blockchain economy with its marketplace and mentioned this fact as the reason for their participation.

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What is a metaverse?

First of all, what is a metaverse? A generally common definition does not yet exist. Matthew Ball, management partner at EpyllionCo, defines Metaverse in his 2021 essay “Framework for the Metaverse” as an “expansive network of persistent, rendered 3D worlds and real-time simulations that provide continuity of identities, objects, historicity, currencies and authorizations. and can be experienced synchronously by an unlimited number of users in an individual way “.

Lootex promotes GameFi technology

Yuji Kumagai, CEO of Akatsuki, said in a press release from the company that it is very important to activate the NFT marketplace for GameFi to give NFT players the opportunity to acquire ownership and move independently. The term GameFi stands for “games” and “finance”. According to the website “tradeleader” it refers to video games that run on a blockchain and where users have to make money by playing, for example to be able to buy special items from the game in the form of NFTs. According to Kumagai, Akatsuki assumes that Lootex will contribute to the expansion of GameFi technology. Brian Lu, founding partner at Infinity Ventures Crypto (IVC), also commented positively. IVC is pleased to be able to support Lootex in realizing their vision of a decentralized and transparent marketplace for NFTs. He described the project as groundbreaking work that would facilitate the formation of virtual assets.

Video game ownership must be liberalized

The Lootex marketplace currently supports over 12,000 NFTs across 500 collections. Justine Lu, CEO of Lootex, pointed out in a statement that the company’s mission is to liberalize the ownership of video game assets and bring blockchain games closer to traditional players. By offering a video game-focused NFT marketplace, the company will enable players to discover the value of their hard work and leverage their results to trade.

M. Wieser / Editor

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