Karmaverse

Karmaverse operates as a decentralized gaming metaverse, or "GameFi multiverse," leveraging blockchain technology to merge play-for-fun and play-to-earn elements. The company was founded in 2021 and is headquartered in Beijing, China. The development team behind Karmaverse has a significant track record, having previously created two globally top-10 ranked simulation life games (SLGs), "King of Avalon" and "Guns of Glory," which together generated $2 billion in revenue. The CEO, Scott Cheung, has prior experience advising on projects on Ethereum and BSC and was a co-founder of a WallStreetBets community.

The company's business model is centered on creating a platform of interconnected game worlds, with plans for at least seven distinct universes, including themes like post-apocalyptic zombie survival, fantasy, the Old West, and cyberpunk. Players, referred to as "Karmanauts," can use Non-Fungible Tokens (NFTs) to own and transfer assets across these different games or sell them on the platform's marketplace. This structure creates a player-driven economy. The first game launched within this metaverse is "Karmaverse Zombie," a match-3 SLG set in a post-apocalyptic world. The platform is designed to be accessible, offering a free-to-play option where players can participate without an initial investment, a notable distinction from many other play-to-earn games.

Karmaverse's revenue streams are derived from in-game activities and transactions within its ecosystem. The platform utilizes a dual-token economic system to maintain stability. The primary governance token is $KNOT, which has a total supply of 210 million and is used for significant actions like upgrading hero NFTs and for governance votes. A secondary sub-token, such as SERUM in "Karmaverse Zombie," is earned and consumed during daily gameplay tasks. This economic model is designed to balance the output, holding, and consumption of digital assets. The company has successfully raised a total of $8 million through three funding rounds, including a Seed round, a Series A, and an ICO. The largest of these was a $6 million Series A round in February 2022, led by A&T Capital, with participation from other notable investors like Polygon Studios, Foresight Ventures, and GSR Ventures. The company has also formed strategic partnerships with entities such as DeGame and Solidus Ai Tech to expand its market reach and technological infrastructure.

Keywords: GameFi, metaverse, play-to-earn, blockchain gaming, NFT, simulation life game, SLG, Karmaverse Zombie, KNOT token, crypto gaming, digital assets, virtual economy, decentralized gaming, mobile gaming, player-driven economy, A&T Capital, Polygon Studios, King of Avalon, Guns of Glory, Scott Cheung