More On: COINBASE
Shares of Coinbase fall 11% because of a hot report on inflation
Limit Break's DigiDaigaku NFT collection increases by nearly 100 percent when the company raises $200 million
Binance now has more Bitcoin than Coinbase
ARK Invest sells $75M in Coinbase shares owing to poor performance
$248M stablecoins leave Coinbase as community refutes liquidity worries
Limit Break uses a "free-to-own" model because it intends to distribute its NFTs for free.
According to nftgo data, the floor price of Limit Break free mint NFT DigiDaigaku rose to 15.67 ETH after news broke that its parent company raised $200 million in two funding rounds.
According to the data, the collection's 24-hour trading volume increased by over 400% to around $4 million. Aside from that, its market capitalization increased by 130% to $48 million.
Limit Break successfully raises $200 million.
Limit Break, a Web3 gaming startup specializing in massively multiplayer online (MMO) games, has raised $200 million in two rounds of funding.
The company announced this on August 29, revealing that the funding rounds were led by Josh Buckley, Paradigm, and Standard Crypto.
Coinbase, FTX, Anthos Capital, and Positive Sum are among the other round investors.
Gabe Lydon and Halbert Nakagawa, both of whom previously worked at Machine Zone, founded the gaming startup.
According to available information, the game will use a "free-to-own" model, with the NFTs being given away for free.
Limit Break would earn money from other gaming features as well as from its plan to sell some NFTs once its fans begin selling theirs on OpenSea.
According to Lyndon, the decision to make the game free to play is intended to eliminate scam-like activities such as companies pre-selling NFTs and then failing to deliver on the game.
While most crypto games generate revenue by selling NFTs and other game access first, Lyndon believes that giving the NFTs away for free will generate more interest and help the game build a strong community.
Free-to-play is already a popular model in the mainstream gaming industry, generating billions of dollars in annual revenue. However, it is a novel approach in the crypto space.
Related video
** Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of USA GAG nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
