Chinese gaming firm The9 has secured an $8 million investment from crypto funds to enter the GameFi sector.
The9 and the Strategic Investment
The9 Limited, a well-known Chinese gaming company, has secured $8 million from funds like Elune Capital and Fine Vision Fund to enter the GameFi market. This capital will help develop a global GameFi platform and issue a GameFi token.
What is GameFi and Why Does it Matter?
GameFi combines the gaming industry with decentralized finance (DeFi), offering players real-world value for gameplay. Key benefits include P2E models and ownership of in-game assets through NFTs.
The9's GameFi Platform: What to Expect?
The9 plans to establish a new entity for its GameFi platform, as well as launch a GameFi token to support the platform's economy and reward players. A global focus on the audience and diverse game genres is expected.
The investment in The9 marks a significant milestone in the evolution of GameFi, confirming the growing interest in integrating gaming and cryptocurrency technologies.
