Exclusive: Web3 studio Dragonz Lab nabs $9 million for its play-to-earn game

Web3 gaming studio Dragonz Lab has just bagged $9 million in fresh funding from Syndicate Capital Limited Partnership Fund (LPF), Investing.com has learned.

With over 5.3 million active users already on board, the UK-based studio is set to use the fresh capital to supercharge the game’s ecosystem. Dragonz Land also plans to introduce new features, more PvP tournaments, guild collaborations, and a new loyalty program for players.

Dragonz Land focuses on blending dynamic gameplay with NFTs. Players can collect, trade, and level up unique NFT cards across 16 factions, earning in-game tokens along the way.

Andy Chen, Co-General Partner at Syndicate Capital and Board Member at Dragonz Lab, said: “Partnering with Syndicate Capital LPF represents a huge leap forward for the Dragonz ecosystem. Being the frontier and market leader in the Web3 spaces, our expertise in building ecosystems around loyalty programs aligns with our vision to create a sustainable and engaging gaming environment.”

Available on both mobile and desktop via Telegram, Dragonz Land uses blockchain tech to ensure secure transactions and real ownership of digital assets. Syndicate Capital, typically a Web2 player, is now stepping into Web3 with this Play-to-Earn project—looking to tap into the growing market of tap games that often struggle to keep players hooked.

Dr. Albert Yip, Chairman of Syndicate Capital, added “Dragonz Land represents the future of gaming and Web3 more broadly, combining our success in customer loyalty programs as well as the excitement of GameFi, innovative blockchain technology, and a successful revenue model.” 

“As a Web3 builder, we are thrilled to support this project, providing our expertise to boost the Dragonz ecosystem and produce synergy with our other digital loyalty programs such as Asia Top, which is one of our flagship portfolio companies of Syndicate Capital LPF .”

Dragonz Lab plans to roll out some new game features and tweak its tokenomics in the coming months, with a focus on making the game more engaging for players and improving the community vibe.

Source: Investing.com