Upcoming play-to-earn blockchain game Battle Derby has closed a funding round of £1.8 million ahead of the launch of its BDG token slated for Q1 2023.
The funding round included contributions from several high-profile names in the cryptocurrency space including Chromia, Grow Your Base Inc., AlphaCoin Fund, Crypt2Gem, 98KDAO, and WillyRex.
Battle Derby is a mobile-based multiplayer battle royale game from Triple O Studios, which will run on the Chromia network. The project is an exception to the rule in the crypto space, in that the majority of the game is already built. The development of the gaming platform will focus on perfecting the game’s tokenomics and streamlining blockchain integration with the game to provide end users with a sleek and intuitive experience.
Triple O Games (the studio behind Battle Derby) was founded with the vision of delivering blockchain games with sustainable P2E tokenomics through an innovative model they have dubbed ‘proof of skill’.
Isidro Quintana, CEO of Triple O Games, remarked:
Proof of skill is not a consensus mechanism, but rather an incentive structure that controls a game’s reward and governance system. The purpose of this structure is to grant more power to the actual players of the game, as opposed to whoever has the most money and therefore can control the most tokens.
The company which is renowned for its successful remote learning culture (Triple O being an anagram for ‘Out Of Office’) is based in Spain’s Canary Islands and has also received funding from the local authority. Triple O Games received a participative loan through SODECAN and the FCF1, co-financed from the FEDER (ERDF Operational Program of the Canary Islands 2014-2020), consolidating the public support for the company’s R&D activities.
The details regarding public token sale, TGE, and mainnet launch will be announced later this year.