- As a result of oversubscription in the private round of Affyn’s token sale, Affyn opened a new strategic round. This round had also become oversubscribed, prior to the presale on December 18th.
- Backed by more than 50 venture capitalists, institutional investors and partners. Signaling high confidence and strong demand for Affyn’s Play-to-Earn Metaverse.
Singapore startup Affyn, a blockchain-powered Metaverse project, is developing a Free-to-Play and Play-to-Earn mobile game with integrated geolocation and augmented reality (AR) capability.
Reimagining Free-to-Play and Play-to-Earn
Affyn includes the interesting concept of every in-game character, which they term “Buddy”. Being a non-fungible token as a metaverse-based project with geolocation capability and AR elements (NFT). If you’re not familiar with NFT, it simply implies that the buddy belongs to you rather than the game makers.
This upends the traditional gaming industry, in which gamers spend thousands of hours grinding for in-game things. In addition currencies that they don’t actually own.
Creating a Closed-loop Economy
FYN tokens are Affyn’s currency, which is similar to how each game has its own set of currency. The utility of FYN tokens will be extremely diverse. In addition to in-game transactions, real-world utility is being considered.
The value of FYN tokens increases by developing a closed-loop economy where players can earn tokens virtually and use them in the real world.
Ensuring a Sustainable Game Economy
Affyn was one of the first companies to use the mobile Play-to-Earn model, which aimed to change the way players derive value from the ecosystem in comparison to traditional gaming platforms.
The team spent over a year creating a precise roadmap for a long-term game economy. This ensures that incentives stay appealing to both existing and new players over time.
Founder and Chief Executive Officer Lucaz Lee, who is in charge of fundraising, on why he created this project. “A Metaverse, in our opinion, is a world where individuals can meet, play, and connect in real life as well as digitally. Affyn seeks to create a worldwide movement where we can all play, earn, and have more fun together by using blockchain technology as a bridge.”