
Web3 Studio Dragonz Lab Secures $9 Million for Play-to-Earn Game
Dragonz Lab, a Web3 gaming studio, has successfully secured $9 million in funding from Syndicate Capital Limited Partnership Fund. With a user base exceeding 5.3 million active players, the UK-based studio plans to utilize this new capital to enhance the gaming ecosystem of Dragonz Land. The studio aims to roll out new features, increase player-versus-player tournaments, foster guild collaborations, and launch a loyalty program for gamers.
Dragonz Land is dedicated to creating a unique gaming experience by integrating dynamic gameplay with non-fungible tokens (NFTs). Players can collect, trade, and level up distinctive NFT cards across 16 factions while earning in-game tokens.
Andy Chen, Co-General Partner at Syndicate Capital and a board member at Dragonz Lab, stated that the partnership with Syndicate Capital LPF marks a significant advancement for the Dragonz ecosystem. He emphasized that their expertise in developing ecosystems around loyalty programs aligns with their goal of crafting a sustainable and engaging gaming environment in the Web3 space.
Accessible on both mobile and desktop through Telegram, Dragonz Land employs blockchain technology to guarantee secure transactions and true ownership of digital assets. Syndicate Capital, traditionally a player in the Web2 sphere, is now venturing into Web3 with this Play-to-Earn initiative, seeking to engage with the expanding market of tap games that often face challenges in retaining players.
Dr. Albert Yip, Chairman of Syndicate Capital, expressed excitement about Dragonz Land, describing it as a representation of the future of gaming and Web3. He highlighted the combination of their success in customer loyalty programs with the thrill of GameFi and innovative blockchain technology as part of a viable revenue model.
As a Web3 builder, Syndicate Capital is eager to support Dragonz Lab, using their expertise to enhance the Dragonz ecosystem and create synergies with other digital loyalty initiatives in their portfolio.
In the upcoming months, Dragonz Lab intends to introduce new game features and make adjustments to its tokenomics, with the aim of creating a more engaging experience for players and enhancing the community atmosphere.