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​Binance Labs Makes Strategic Investment in Elfin Kingdom to Grow GameFi in BSC Ecosystem

2021-12-16

Main takeaway

  • Binance Labs has become a strategic investor in Elfin Kingdom aiming to  provide a gaming platform for developers and gamers that is easy to use and delivers a fun experience for all.

  • Elfin Kingdom is the first GameFi and asset issuance platform that intends to  bring IFOs (Initial Farms Offering) into the crypto gaming world and integrate it into the Binance Smart Chain (BSC) ecosystem, playing an important role in expanding the gaming sector within the BSC ecosystem.

Binance Labs, the venture capital arm and innovation incubator of Binance, today announced its strategic investment in Elfin Kingdom, a GameFi community-driven metaverse.

We are pleased to announce that Binance Labs, the venture capital arm and innovation incubator of Binance, made a strategic investment in Elfin Kingdom, a GameFi project and asset issuance platform where players, developers, and investors can own, launch their own projects, mint and trade Elfin NFTs within the ecosystem.

Elfin Kingdom is a game studio developer in the crypto space. It creates worlds for everyone and enhances the lives of users by developing high-quality games that combine the benefits of crypto-technology and can vibrate with all kinds of personalities, bring people together, and allow everyone to learn and grow while having fun.

Elfin Kingdom will launch the test version of the game on the Binance Chain Testnet shortly where players will be able to capture Elfins and battle. Also the Farming option will be live where users can stake and earn rewards. The project plans to attract more players, creators, and talent to join the Kingdom in building a metaverse for the next generation of crypto games.

Brad Lim, Investment Director of Binance Labs, said: “Elfin Kingdom is a GameFi project with huge potential. Elfin Kingdom introduces a new form of GameFi, which is combined with DeFi; eventually, players can stake partnered DeFi project tokens within the games for extra benefits. We believe that Elfin Kingdom can bring a ‘free to play’ model to this industry.”

“In Elfin Kingdom we aim to bring closer decentralized technologies and communities, by allowing users to take advantage of the benefits of blockchain technology and being part of a new economy. With Binance Labs as a strategic investor, we are one step closer to building a better crypto-gaming ecosystem. I believe that all parties involved are going to benefit in terms of participation and innovation within the fastest crypto-growing sector,” said Juan, the CEO of Elfin Kingdom.

Discover Elfin Kingdom: A GameFi and asset issuance platform

Elfin Kingdom is a GameFi and asset issuance platform where players, developers, and investors could create value through gaming and DeFi in a sustainable ecosystem. This project aims to bridge the gap between gameplay development and crypto benefits allowing the community to enjoy the value of gameplay, story, and DeFi.

Elfin Kingdom will be more than a game. It will be an asset issuance platform that will allow projects to create games inside the platform, raise capital, own land, and farm while immersed in the Elfin Kingdom universe. Users will enjoy the freedom of selecting their role within the Kingdom, where they will decide future courses for improvements or other governance matters.

Binance Labs: The Venture Capital Arm and Innovation Incubator of Binance

Binance Labs identifies, invests, and empowers viable blockchain entrepreneurs, startups, and communities, providing financing to industry projects that help grow the larger blockchain ecosystem. Binance Labs is committed to supporting fast-executing teams who positively impact the crypto space.

Binance Labs is currently running Season 3 of the Incubation Program. It is taking applications for Season 4 next year. Those who are interested in participating can apply to be part of the program here.

Read the following items for more of the recent activities of Binance Labs:

Disclaimer: Only Binance Labs is a strategic investor of Elfin Kingdom. Binance exchange currently bears no responsibility and is not connected to any of their tokens.