TeaDAO Raised a US$4.6 Million Seed Round led by Shima Capital to Accelerate Growth of GameFi 2.0
TeaDAO, the first Decentralized Metaverse Reserve Currency for GameFi, raised a $4.6M seed round led by Shima Capital. Our other high-profile backers include Signum Capital, UOB Venture Management, PNYX, HyperChain, MXC, Spark Digital, MapleBlock, Momentum 6, DFG, JSquare, AU21, X21, Fomocraft, LD Capital, Basics Capital, Parsiq, Newave Capital, CoinW Venture, NFV Venture, 7OclockCapital, ZBS Capital, AVStar, HG Ventures, Satoshi, Token Hunter and a few more. The company also welcomed notable angel investors.
With a diverse set of investors across all aspects of the DeFi and GameFi, their support positions TeaDAO well to execute on our mission to accelerate the development of GameFi 2.0, achieving our long-term goal of building a Metaverse Reserve Currency protocol designed to drive growth in GameFi by solving the shortage of NFT liquidity.
“We are very proud to be one of the earliest contributors of TeaDAO. We are excited by the projects’ potential to enable GameFi 2.0 by providing instant liquidity for NFT. And we are fully committed to working closely with the team to unleash the full potential of TeaDAO and start a new era.” says Yida Gao, Founding Partner of Shima Capital.
Pioneering POL in GameFi
GameFi projects like Axie Infinity allow users to earn real money by playing them. This fusion of gaming and cryptocurrency has proven too exciting to ignore for thousands of investors and entrepreneurs. As a result, the number of GameFi projects being developed has skyrocketed over the past year.
Unfortunately, this proliferation of GameFi projects has left most of them struggling to deal with in-game token inflation and the illiquidity of NFT and fighting to differentiate themselves from an ever more crowded market.
That’s where TeaDAO comes in.
TeaDAO is a Metaverse Reserve Currency protocol based on $TEA token, that enables GameFi 2.0 by solving the shortage of NFT liquidity. TeaDAO positions itself as a pioneer in facilitating POL (protocol-owned liquidity) in GameFi through its NFT-as-Bonding-Assets mechanism, allowing GameFi projects to have a sustainable approach for incentivizing and rewarding gamers while fully controlling the liquidity of NFTs and balancing the net benefits for both current and new players.
“We think the NFT-as-Bonding-Assets mechanism that TeaDAO is building is an excellent idea,” says John Ng Pangilinan, the Managing Partner of Signum Capital. “Gamers no longer face the problem of collecting illiquid assets as they can instantly sell NFTs via TeaDAO to unlock a stable income, turning GameFi into a real job. The experience and the execution speed of the team have really impressed us so far, and we cannot wait to work with them to foster a vibrant and sustainable GameFi ecosystem in the long run.”
What’s next?
The launch of TeaDAO aims to open a new world combining of DeFi 2.0, GameFi, and Metaverse. Initially, TeaDAO will operate on the BNB chain and Ethereum chain, though will expand to become a multi-chain over the course of 2022.
“We believe that TeaDAO is now about to ride an upcoming infrastructure wave — one that will offer instant liquidity for NFTs and drive value to the GameFi sector as a whole. UOB is delighted to back TeaDAO.”, says Charles Kok, Director of UOB Venture Management.
Prior to the mainnet launch planned for 2022, TeaDAO is releasing whole new and complex features in the coming months including GameFi Pulse, NFT Price Feed, and more. Users are now able to uncover and visualize blockchain data on GameFi projects and make wise investment decisions themselves, thanks to a powerful yet easy-to-use analytics tool — GameFi Pulse.
Important partnerships will also be announced soon. Several community events will be held to celebrate the upcoming product releases and partnership. Keep an eye on our social media to reap massive benefits as an early adopter!!
Crypto billionaire investor Stelian Balta, Founder HyperChain Capital says:
“Being active in the crypto space since 2013, we have seen many blockchain technologies emerge and our main strategy is always to invest in people. The TeaDAO founders have the business acumen and proven execution capability, and we believe that the team will lay a solid foundation for the crypto industry and that TeaDAO, by combining DeFi 2.0, GameFi, and Metaverse, will accelerate the arrival of GameFi 2.0, onboarding tens of millions of new users to the crypto space.”
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About TeaDAO
TeaDAO is a Metaverse Reserve Currency, solving the illiquidity of NFTs and enabling sustainability and scalability for GameFi projects by offering a unique NFT-as- Bonding-Assets mechanism. TeaDAO will be a community-owned entity, allowing TEA holders to shape TeaDAO’s future via on-chain voting. Initially, TeaDAO will operate on the BNB chain and Ethereum chain, though will expand to become a multi-chain over the course of 2022.
