Binance Labs Invests in League of Kingdoms to Develop Web 3.0 Gaming Ecosystem

Binance Labs, the enterprise capital and innovation incubation arm of Binance, invested in the League of Kingdoms(LoK), the world’s first decentralized MMO NFT technique sport on Ethereum.

In LoK, gamers can construct kingdoms on lands they personal. Players will attempt to develop a robust kingdom, construct alliances, and progress in constructing ranges and analysis to elevate a military for fight towards enemies (different gamers, monsters, guilds, servers). Through blockchain know-how, LoK permits landowners to monetize their funding and sport time as they obtain rewards. Also, customers who don’t personal lands can monetize their sport time by accumulating sources and buying and selling them.

Chan Lee, CEO of LoK, stated: “LoK team is dedicated to building a more easily accessible and self-sustaining gaming ecosystem. We are starting with the ‘Play-to-Earn’ model, but eventually, we want to build infrastructures that support governance launch, sidechains, NFT bridges, social network features, etc. After setting up the infrastructures successfully, we will go through the DAO transition to drive Web 3.0 adoption in this industry.”

Bill Chin, Head of Binance Labs Fund, stated: “Web 3.0 is always a sector that we are looking forward to investing in and collaborating with. After building an in-game NFT marketplace and setting up infrastructures, LoK will go through a DAO transition. It will definitely be groundbreaking if MMO strategy gaming genre and NFT feature are completely integrated.”

He added, “The founding staff has launched the sport in July 2020 and has been specializing in constructing the product. As a consequence, the sport’s DAU is 18K, and for the reason that product isn’t full but we consider that the staff can deliver the very best of its competency in coming years.

Disclaimer: Only Binance Labs is a strategic investor of Elfin Kingdom. Binance alternate at present bears no duty and isn’t related to any of their tokens.

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