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Two of the most important themes in the bitcoin and blockchain industries are decentralised banking and gaming.
DeFi Land, a blockchain gamification platform, has raised $4.1 million in funding to launch a new decentralised finance game on Solana, showcasing the burgeoning ecosystem surrounding SOL.
Over 40 investors participated in the funding round, including some of the largest names in blockchain venture capital. Among the primary investors were Animoca Brands, Alameda Research, Jump Capital, NGC Ventures, Solana Foundation, and Gate.io.
DeFi Land is a farming simulation game that aims to gamify all facets of decentralised finance. The purpose is to develop instructional solutions for users interested in DeFi or other alternative financial options. The website has a play-to-earn approach, allowing users to earn money by performing tasks or hitting milestones.
Brian Lee, a senior executive at Alameda Research, said DeFi Land blends “two of the most interesting things happening in crypto right now – gaming and DeFi.” This raises the likelihood of inexperienced gamers and cryptocurrency users accessing the decentralised financial sector for the first time.
Although DeFi Land is primarily aimed at ordinary investors with bitcoin exposure and newcomers to the sector, demand for DeFi protocols is swiftly expanding to include major institutions and accredited investors. Large institutional investors dominated the decentralised finance industry in the second quarter, according to recent reports.
According to new Chainalysis data, large institutional transactions accounted for more over 60% of DeFi transactions between April and June, compared to less than 50% of all cryptocurrency transactions. When measured in terms of total value locked, or TVL, the DeFi market is currently worth over $170 billion, according to industry data.