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Taiwanese founded Lootex raises USD$ 9M seed fund, investors include Twitch and Rotten Tomato cofounders
Cross-chain NFT trading platform Lootex closed USD$ 9M seed fund led by industry titans including Spartan Capital, Infinity Ventures Crypto, LD Capital, and Akatsuki. Other investors include Twitch’s co-founder Kevin Lin, and Rotten Tomato’s co-founder Patrick Lee. Lootex is looking to connect blockchain games and traditional players.
Ｗith the new funding, Lootex can aim to become the ultimate one-stop shop in the metaverse, where players can purchase avatars, rare weapons, virtual land, and even pets or monsters for their favorite NFT games.
The seed funding was led by industry titans including Spartan Capital, Infinity Ventures Crypto, LD Capital and Akatsuki. The round also saw the participation of SweeperDAO, YGG SEA, Polygon Studio, HTC, Huobi Ventures, OKEx Blockdream Ventures, Avocado Guild, Cherubic Ventures, Palm Drive Capital, Evernew Capital, Morningstar Ventures, NGC Ventures, Petrock Capital, Panony, Yolo Investments, Kosmos Ventures, Daedalus and more. From PKO Investments syndicate, Twitch’s co-founder, Kevin Lin, Kabam’s co-founder, Holly Liu, Patrick Lee, Co-founder of Rotten Tomatoes, and Kun Gao, Co-founder of Crunchyroll also all participated in the round.
As the metaverse becomes more a part of our everyday reality, Lootex already built up an active and enthusiastic community of more than 80,000 monthly active users, and in last November Lootex announced monthly sales volume exceeding $2 million. Lootex has partnered with more than 50 blockchain-based games so far, including RPS League, Block Monster, Dungeon Swap, and Olympus Royale.
These partnerships, as well as several others in the works, will allow Lootex to further develop its cross-chain NFT trading platform. Lootex’s marketplace currently features over 12,000 NFTs, spread out among over 500 collections. Its easy-to-use interface allows gamers to browse and purchase what they need, and even monetize their skills, without any technical knowledge necessary.
“Our mission is to liberate game asset ownership and connect blockchain games to traditional players. By providing a game-oriented NFT marketplace, players are able to trade and discover the value of their hard work and accomplishments,” said Justine Lu, CEO and co-founder of Lootex.
“It is very important to activate the NFT marketplace for GameFi in order for NFT gamers to have ownership and move autonomously. We believe Lootex will contribute to the expansion of the GameFi ecosystem,” said Yuji Kumagai, Director of Akatsuki Inc.
“IVC is thrilled to support Lootex’s vision and mission to create a transparent and decentralized NFT marketplace - a pioneering step towards facilitating people's virtual assets,” said Brian Lu, Founding Partner at Infinity Ventures Crypto.
Dan Wang, Head of Investments at YGG SEA, sees Lootex’s marketplace as an important platform for the guild’s gamers. “YGG SEA’s top priority is our scholars. We make all decisions that, we believe, are in the best interests of the everyday gamers who want to get involved in the P2E space. Lootex’s platform contains comprehensive information, statistics, and reviews on in-game items and NFTs that present a unique advantage for our scholars,” Wang said.
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