DeFi Land, a blockchain gamification platform, has raised $4.1 million in funding to develop a new decentralized finance game on Solana.
DeFi Land is a simulation game for agriculture that gamifies the facets of decentralized finance. The purpose is to develop educational resources for anyone who wants to learn more about DeFi or other alternative financing options. The site has a play-to-earn concept, in which users can earn money by performing tasks or attaining milestones.
Over 40 investors took part in the round, including some of the most well-known names in blockchain venture capital. Major investors included Animoca Brands, Alameda Research, Jump Capital, NGC Ventures, Solana Foundation, and Gate.io.
DeFi Land combines “two of the most intriguing things happening in crypto right now – gaming and DeFi,” according to Brian Lee, a senior executive at Alameda Research.
Casual gamers and crypto users will be more likely to access the decentralized finance sector for the first time as a result of this.
Despite the fact that DeFi Land is primarily aimed at retail investors and gamers who are new to cryptocurrencies, demand for DeFi protocols is swiftly growing to include significant institutions and accredited investors.
Large institutional investors dominated the decentralized finance sector in the second quarter, according to Cointelegraph.
According to new statistics from Chainalysis, large institutional transactions accounted for more than 60% of DeFi transactions between April and June, compared to less than 50% for all cryptocurrency transactions.
According to industry estimates, the DeFi market is currently valued over $170 billion in terms of total value locked, or TVL.