Prominent Web3 game studio SinVerse Studios has secured a significant seven-digit investment deal with leading Web3 investment firm DWF Labs to accelerate the growth of its platform.
SinVerse Studios is renowned for creating the first-ever R-Rated Mafia Metaverse, a game that has disrupted the gaming industry since its launch in October 2021, with gameplay similar to the popular Grand Theft Auto (GTA) franchise.
Through this partnership, SinVerse aims to solidify its position as an industry leader, as DWF Labs provides strategic support and backing for the studio’s future plans.
Since the release of Mafia Metaverse, SinVerse has amassed a huge community following and achieved a significant milestone with a highly successful land sale, generating $3.5 million in revenue.
With the support and investment from DWF Labs, SinVerse is now embarking on the development of the first-ever Web3 gaming console, the NFT Cube, which has been in progress for 18 months.
“We are excited to bring our expertise, capital, and strategic guidance to accelerate their growth and drive the future of the gaming industry,” said DWF Labs managing partner Andrei Grachev.
DWF Labs offers assistance ranging from token listing to market making to OTC trading solutions on a global scale. The firm aims to invest in and provide support to innovative founders who aspire to shape the future of Web3, including SinVerse Studio.
Present in five countries — Singapore, South Korea, Switzerland, the UAE and the British Virgin Islands — with a daily volume of nearly 2,000 pairs, DWF Labs has now become the lead investor and strategic partner for the 18-month-old game studio, fully supporting its ambitious vision.
This partnership has the potential to propel blockchain gaming into the mainstream category, estimated to be worth around $375 billion.
SinVerse’s upcoming programs
In February, the SinVerse Foundation launched a Buy Back program for its native token, $SIN, which operates on the Binance Smart Chain Blockchain.
The $1 million program will run from the first quarter of 2023 to the second quarter of 2023. The foundation aims to implement the program in a way that benefits the entire ecosystem, supporting the platform’s ongoing growth.
“This program, along with the increase in players and the upcoming gaming announcements, makes this a truly exciting time for the SinVerse community,” SinVerse Studios CEO Marouane Fikri said.
The tokens purchased during the Buy Back program will go to the gaming rewards pool, which will be locked for four years to reward loyal players who invest in the ecosystem by playing the games.
In addition to the Buy Back program, SinVerse will hold its final land sale on April 21 before the SinVerse resale market opens — expected to commence in the second quarter of this year — along with NFT Land staking.
On its official Medium page, SinVerse has announced the whitelist and districts that will be available for sale over a two-week period, with the price list set to be revealed on April 17, 2023. All sales will be conducted exclusively using the $SIN token.
A limited number of land will also be available for public sale, for those who did not make it into the whitelist. However, the prices for public sales will be higher than the whitelist prices and will be published one day after the whitelist sale date.