NFT gaming startup Eterlast exits stealth with £3.9m

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Web3 start­up Eter­last has left stealth mode hav­ing secured $4.5m (£3.9m) in fund­ing for its blockchain-based gam­ing experiences.

Eter­last devel­ops NFTs in asso­ci­a­tion with sport­ing and media fran­chise part­ners. The dig­i­tal assets can be col­lect­ed by con­sumers and used as part of gam­ing experiences.

The com­pa­ny has begun the devel­op­ment of blockchain games based on the sports of box­ing and rug­by. The start­up has raised fresh cap­i­tal against a back­drop of a plum­met­ing NFT mar­ket in which the num­ber of NFTs sold and the aver­age price has collapsed.

“We under­stand NFTs not as a prod­uct, but as a tech­nol­o­gy that enhances the expe­ri­ence of cur­rent use cas­es around gam­ing, col­lect­ing, and expe­ri­enc­ing live events. With that view, we are build­ing holis­tic ecosys­tems that bring those three ele­ments togeth­er,” said Eter­last founder and CEO, Joan Roure.

“This fund­ing will enable us to launch our first offi­cial­ly licensed prod­ucts to the mar­ket and to build robust pil­lars to keep scaling.”

The com­pa­ny has said for the next 12 months it will be focused on build­ing its user base and secur­ing more brand partnerships.

Eter­last was found­ed in the UK as part of Founders Fac­to­ry, a start­up accel­er­a­tor and ven­ture cap­i­tal firm. The Web3 start­up is part­ly based in Barcelona.

The seed invest­ment for Eter­last came from Supern­ode Glob­al, Play Ven­tures, Active Part­ners, Stake Cap­i­tal, Immutable X, and Founders Factory.

“The team have done a fan­tas­tic job to date, secur­ing impres­sive part­ner­ships and IP to inte­grate with their plat­form,” said Supern­ode Global’s Oli Strong.

“In our view, there is a huge oppor­tu­ni­ty at the inter­sec­tion of Sport and Web3 and Eter­last is unique­ly posi­tioned to cap­i­talise on this.”

Sport­ing organ­i­sa­tions have been explor­ing part­ner­ships with NFT star­tups since the tech­nol­o­gy found main­stream pop­u­lar­i­ty last year. The Pre­mier League is cur­rent­ly in talks for a mul­ti-mil­lion-pound deal with sev­er­al NFT startups.

The Depart­ment for Dig­i­tal, Cul­ture, Media and Sport (DCMS) recent­ly announced an inquiry into the risks and ben­e­fits of NFTs.



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