DeathRoad, a comprehensive gaming metaverse for car race gaming enthusiasts, just announced the launch of its initial decentralized exchange offering (IDO) on Red Kite. This comes just days after the closure of DeathRoad’s private round of funding that saw the participation of leading venture capital firms such as Raptor Capital.
The DeathRoad game is designed as a race-to-earn gaming ecosystem where players utilize their virtual car racing skills to enjoy as well as earn valuable digital assets.
The platform’s metaverse features several racing modes, including a battle mode where players can buy the platform’s native tokens ($DRACE) and get a chance to battle it out in an arena-like setting.
There is also the “Showroom” mode where racers get to buy NFT secret boxes for a chance to win new cars and weapons. DeathRoad also comes with a marketplace for racers to trade their weapons and cars. Players also get a garage where the virtual land property can be bought by gamers who own more than 5 cars.
The DeathRoad Gaming Experience
Players in the metaverse can also rent out their cars and earn money, and there is a governance structure with a ‘city hall’ embedded into the game where players get to vote on new updates and developments to the platform.
Built on Binance Smart Chain (BSC), DeathRoad has already amassed a diverse team of investors to its roster including the likes of Magnus Capital, Raptor Capital, Everse Capital, and Metrix Capital, to mention a few.
DeathRoad will be launching its IDO on the Red Kite launchpad which is a cutting-edge launchpad by PolkaFoundry (a production hub for DeFi and NFT applications).
Although PolkaFoundary is designed for decentralized applications (dApp) that launch on Polkadot, it features interoperability with other NFT and DeFi based ecosystems such as BSC.
With PolkaFoundry, dApp developers can build open lending platforms, connect with other decentralized exchanges on third-party blockchain networks as well as set up NFT auction marketplaces. One of the perks of launching on PolkaFoundry’s Red Kite is the fact that it offers access to top-tier marketing partners allowing projects to get easy visibility among investors.
DeathRoad’s Private Round
DeathRoad now adds its ongoing IDO to its oversubscribed private round that closed on August 24th.
Raptor Capital, an investment and advisory services firm that aims to lead blockchain startups to success with its expertise, led the DeathRoad private round that just ended.
X21 Digital, which is a Blockchain advisory and investment first, also participated in the private round. X21 Digital aims to offer startups such as DeathRoad optimal strategies and advice towards success.
The two venture capital firms were also joined by Metrix Capital which is an investors vehicle and incubator based in Dubai.
Growing Recognition of Metaverses and NFTs
The convergence of NFTs and metaverses has been touted as the catalyst that will bring about revolutionary changes to the gaming world. NFTs incorporate smart contracts which are designed as self-executing programs that can be coded with specific instructions. Game platforms such as DeathRoad are pushing the boundaries of what is possible when NFTs are implemented in a metaverse by creating a platform that gives players true ownership of NFT-based in-game items.
With features such as an NFT marketplace where players get to trade and exchange in-game items, a new era in gaming is emerging where gaming platforms are transformed into self-sufficient economies.
Already, NFTs in the digital art sector is taking off with people pouring hundreds of millions of dollars into NFTs on marketplaces such as OpenSea.
The DeathRoad gaming platform and metaverse that allows players to vote, battle, and earn under one platform is by far one of the latest, if not the first budding ecosystems that merge NFTs in a metaverse.