Totality Corp, a gaming startup with a focus on non-fungible tokens (NFTs) and Indian mythology, on Tuesday raised Rs 13.5 crore ($1.8 million) from Leo Capital and Mayfield Fund.
The company said it will use the funds towards product enhancement, brand growth, acquiring talent, and raising broad knowledge of the NFT games.
"This initial funding is extremely valuable to us because it is going to support our aim of establishing one of the most unique gaming NFTs in India. We are combining innovation with interactive media to provide consumers access to Web3 gaming's full potential,” Anshul Rustaggi, founder of Totality Corp, said.
“ZionVerse will bring superheroes and supervillains inspired by Indian mythology. Indian mythology has some of the richest content and we want to bring this depth to the world through gaming. Totality is attempting to create a holistic experience in which users can simultaneously play, earn, transact, and socialise," he added
Totality Corp said it is building ZionVerse, a metaverse platform based on Indian mythology that would combine monetary features with game-play.
Users will be able to earn cash from other users via the NFTs, it can be used to obtain access to the gaming platform, including games that can be played for money.
The company said it is looking to sell ZionVerse’s first playable NFTs in December 2021.
Since August, venture capital (VC) firms, startups, and celebrities have been involved in the NFT segment with many of them both investing in and endorsing these platforms.
Binance-owned crypto exchange operator WazirX was the first to enter this space in June, but the competition has started hotting up. On 12 September, NFTically--a marketplace focused on launching white-label NFT stores--secured an additional $1 million, following its initial seed funding round.
Cricket-focused Rario and Cricketcrazy.IO, too, have launched their beta platforms. Rario is backed by Indian blockchain firm Polygon and one of the first platforms to come out of Polygon studios, its new entity to back gaming and NFT projects.