Crypto Platform OWN Raises $2 Million In Seed Funding Round

With the funding, OWN (One World Nation) aims to build the first NFT-based play to earn game on crypto markets

Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Crypto gamification platform OWN (One World Nation) announced that it has raised $2 million in seed funding round. The investments were led by Better Capital, Polygon Studios, Cloud Capital and Indigg, among other.

Co-founded by Akhil Gupta, Dinesh Goel, Kunal Jadhav and Mayank Shekhar, OWN plans to disrupt the crypto ecosystem by gamification in a bid to simplifying its user's journey in the understanding of the crypto world.

"We thought to create a universe that would introduce newcomers to the crypto ecosystem in an interactive, fun and easy-to-learn way, at the same time creating larger earning opportunities removing all the FUD associated with it," the company shared in a statement.

The brand will be launching its platform in May 2022.

With the funding, OWN aims to build the first NFT-based play to earn game on crypto markets. This will change the way people feel about the crypto ecosystem. Gamification helps people easily understand complex products and it creates a fun and smooth experience for them. OWN is currently building an NFT-based game around crypto markets. This will help on-board people to crypto at scale without a lot of friction.

Read More: Advice For Crypto Startups On How To Stand Out In Their Field

"To help people become more acquainted with the crypto ecosystem, we are personifying cryptocurrencies. Imagine if Bitcoin, Ethereum, Solana, etc., were represented by a Warrior - Cryptonite. Where each Cryptonite has a backstory, aspiration and a reason for existence. Each one of these Cryptonites will be sold as a unique NFT. Players can own these Cryptonites, play games and earn high rewards in Cryptos!," Akhil Gupta, co-founder, OWN, said. Apart from the gamification of Bitcoin, going forward OWN would do gamification of DeFi (Decentralized Finance) as well.

The crypto space is growing exponentially at the moment at a global scale. A recent report by The Times of India found that cryptocurrency and blockchain startups in the country raised a record $524 million in 2021 against just $5.5 million in 2019. While the space is growing, OWN is exploring a rather uncharted territory in crypto, that is, of gamifying its understanding.

The same report highlights that about 83 per cent of the total investment in crypto and blockchain startups targeted exchanges like CoinDCX, Vauld, etc.

Read More: Safe Cryptos To Invest In During A Crypto Winter

Speaking about the objective behind investing in OWN, Vaibhav Domkundwar , CEO, Better Capital said, "Currently web 3 technology is very new, and it is like the internet of the 90s. We would like to be the catalysts of growth for this rapidly growing industry and OWN is on a futuristic path of leveraging the web 3 tech and building consumer-centric use cases around gaming for Crypto markets."