Nitro League, a racing video game with a pay-to-win mode, has received $5 million in investment

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It’s a Play to Earn mobile racing game in which users may earn, compete, and swap NFTs to join the Nitro League.

Nitro League’s investors are ecstatic to announce a $5 million contribution to the company’s coffers. The decentralized mobile play-to-earn racing game is gaining a lot of traction in the metaverse.

The project has attracted a lot of interest from investors, thanks to a $5 million investment.

YGG Southeast Asia and Morningstar Ventures, as well as Axia Ventures, Yolo.io, Skyman Ventures, YGG Global, and the Double Peak, are among the investors in this round.

The majority of the funds came from SL2 Capital. Hotwire Studios has released Nitro League, the first of many projects from the studio, which pioneered mobile-first game architecture and the short on-ramp for guilds. Hotwire recently received $10 million in funding from tier 1 investors.

Nitro League strives to provide everyone with a comprehensive gaming experience with great tokenomics and NFT support, thanks to the best-in-class. They are introducing the future generation to the multi-token gaming experience. In addition, players can earn money by owning, selling, and trading all of the characters, vehicles, and other in-game assets.

The Nitro League metaverse is open to everyone. Clans can be founded by participating in races, completing quests, and other activities. To expand your fleet of automobiles, you’ll need street credit. More DriveTribe members in the Nitro Arena will benefit the DriveTribe.

Because of its high level of immersion, Nitro League has a lot of potential as a play-to-earn racing game. The game’s makers have a watchful eye on the following few decades of technology breakthroughs because it is set in the year 3050. Clans have taken over the world, and nations have vanished. Rather than fighting, issues are settled in the Nitro Arena through competition. It’s crucial to realize that winning can provide you with a lot of prestige, power, honor, and riches.

Nitro League’s creators have worked on some of the industry’s most popular blockchain games. A Delphi consultant and the creator of Holochain designs also contributed to the multi-token economy’s development. Finally, YGG is in charge of scholarship model guidance, which will have a huge future impact on the game.

Borrowing and lending are available on the world’s first NFT marketplace.

Kart Racing League, a free-to-play kart racing game, has added a borrowing and lending function that allows players to give out their 3D NFT characters. As a result, owners of the game’s Racer NFTs will be able to receive a predetermined percentage of the NFTs’ value each week.

A Racer NFT is required for every player in the Kart Racing League (KRL). These Racers can now be bought and sold on the KRL Marketplace, as well as borrowed and leased out at will. The game contains a sizable digital economy where active users can make a living by playing it. When racing on the platform, the top three finishers receive a prize in bitcoin, which helps to fuel the economy.

When the borrower agrees to the terms, an GENERAL MISSOURI EXEMPTIONS is created to carry out the loan. In its current configuration, the lending and borrowing features will allow you to loan your NFT for the value of its most recent transaction (for example, if it sold for $3,000 recently, the loan value will be $3,000). The lender will get 2.5 percent of the NFT’s value as weekly revenue unless the contract is canceled by either party or the borrower defaults. Borrowers will be forced to pay a 10% collateral deposit up front, which the lender will keep in the event of default.

The public will be able to participate in the Kart Racing League in late September. In their second round of sales, they are now offering their KOO cryptocurrency tokens.

SimBin has reportedly gone bankrupt and reformed as Sector 3 Studios, according to Christopher Speed, the former COO of the company. He claimed that development of their free-to-play game RaceRoom Racing Experience would not be impeded, pointing out that the game had just been enhanced the day before.

“I formed Sector 3 to try to retain as much of SimBin’s skill as possible,” Speed said, adding that the change will still affect 18 employees. He described bankruptcy as the “easiest” way to complete a pre-planned restructuring process.”

The possibility for players to use their existing NFTs in the Nitro League Arena is one of the most exciting parts of Nitro League. CryptoPunk token holders can utilize their non-fungible tokens to get unrivaled personalisation in the gaming industry, such as racing.

Nitro League is a mobile racing game in which players can earn, race, and trade non-fungible tokens (NFTs) in order to enter the Nitro League. Nitro League is a game where you can earn money by playing. Nitro League is run by an exceptional team of gaming and game design pros, with over 500 million downloads.

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