The startup plans to utilize the freshly raised capital into backing product research and development, community building and global team expansion.
Founded in 2022, by Sushant Chandrasekar and Gaurav Gupta, AvatarLife offers single- player, multi-player and play-to-earn skill- based games in its virtual world. It also allows other creators to develop and operate games on its platform.
AvatarLife is a Web 3.0 native gaming company building games for the metaverse and offer a wide variety of games from PvP to PvE, P2E to free-play. The gaming startup's focus is to build player-first games. AvatarLife also has its OpenSim Metaverse with games and other attractions.
The platform also allows creators to develop and operate their own games.
“We are transitioning from a 2D internet living on our screens to a 3D space present inside our screens. This will require new ways of thinking about the user experience and, ultimately, product development. We will continue to invest in building the technology and developing capabilities in-house,” Gaurav Gupta said in a statement as quoted by Economic Times.
Earlier, Info Edge Ventures has led the $2.5 Mn funding of AR-based toymaker Mirana and popular fantasy esports platform Fan Clash.
In start of this month, a report, by Arthur D. Little, said that Indian web3 and metaverse market will reach US $200 billion by 2035. The retail (37%) and financial services sector (15%) will drive the Web3 and Metaverse adoption in India.
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