DeFi Land Raises $4.1M To Launch DeFi Game On Solana

DeFi Land, the Blockchain gaming platform has received $4.1 million in investment so that it can launch a new decentralized finance game in Solana, further emphasizing the growing ecosystem around SOL. More than 40 investors participated in the investment round, including some of the largest blockchain venture capital companies. Some of the major investors that were involved are Animoca Brands, Alameda Research, Jump Capital, NGC Ventures, Solana Foundation, and Gate.io.

DeFi Land acts as a farming simulation game designed for gamifying all aspects of decentralized finance space. Their ultimate aim is to create educational solutions for all the users who are looking to explore DeFi or other financial alternatives.

The platform has a game model (play-to-earn) that allows users to generate income for completing tasks or achieving milestones. A senior executive at Alameda Research, Brian Lee, said that:

“The DeFi Land combines two of the most interesting things happening in crypto right now — gaming and DeFi.”

This increases the chances of casual cryptocurrency players and users entering into the field of decentralized finance for the very first time.

While DeFi Land primarily targets cryptocurrency-related retail investors and the players who have not yet stepped into the market yet, the demand for different DeFi protocols is growing rapidly, including large institutions and accredited investors. Recently it was reported that large institutional investors dominated the DeFi market in the second quarter of this year. Relatively new data from Chainalysis shows that large institutional transactions accounted for more than 60% of all the DeFi transactions between April and June when they were compared to less than 50% for all cryptocurrency transactions.

According to industry data, when measured in terms of Total Locked Value, or TVL, the DeFi market is now worth over $170 billion.