Eclipse background
... /

Nifty League Raises $5 Million Seed Investment Round to Expand its NFT Gaming Metaverse

Cover Image for Nifty League Raises $5 Million Seed Investment Round to Expand its NFT Gaming Metaverse
Nifty League
Nifty League
Posted
Categories: News
Categories: News

Today, we are thrilled to announce the close of a $5 million seed investment round led by RSE Ventures (“RSE”), a New York-based private investment firm founded by Stephen M. Ross and Matt Higgins! Additional investors in the round include Lerer Hippeau, Spartan Group, VaynerFund, Avocado Guild, EVOS Gaming, Private Ventures Group, Advancit W3, TEOH Capital, 3SE Holdings, y2z Ventures, NyanHeroes, DraftKings Co-Founder Matthew Kalish, and Gallery Media Group CEO Ryan Harwood, among others.

Milestone

This milestone is incredibly exciting for our team and community. The Nifty League Co-Founders, Andrew Mahoney-Fernandes (NiftyAndy), Ali Timnak (Snarfy) and Mike Scott (NiftySpike) felt strategic venture investors with a deep understanding of the gaming and play-and-earn space would help supercharge our ecosystem of owners, renters, guilds, partners and overall community.

As many of you know, our ultimate vision is to bring competitive gaming to Web3 – moving away from play-to-earn (“P2E”) into a new era of play-and-earn (“P&E”) by offering a fun and engaging gaming ecosystem. Although Nifty League will be managed via the Nifty League DAO in the future, we believe raising a seed round with strategic VCs and individuals with proven track records of success in tech, Web3, and beyond, will help us achieve the scale we envision even faster.

Our Team

“This milestone is a testament to the strength of our community and vision for what Web3 gaming can become,” said Andrew Mahoney-Fernandes, CEO of Nifty League. “For us, it’s always been about empowering our users to have a real voice in shaping the growth and evolution of our platform, and NFTs make it possible to add that next level of dimension to our games. This new funding will allow us to bring our community’s vision to light as we continue expanding our game offerings while building out the Niftyverse and its developer ecosystem.”

Ali Timnak, Nifty League’s Co-Founder and CTO, who spent the prior 8 years at Activision and grew up gaming and creating games, is excited about the future of web3 gaming. “We have been given a brilliant opportunity to change the gaming scene for the better by leveraging the extreme accessibility of web3. By creating community-led games that are fun, reward competitive play and allow for true player ownership, we give people the ability to share the success of the platform with the most competitive and loyal players in the community.” said Timnak. 

Having developed and directed his animated shows for Nickelodeon and Disney, worked with Oscar-nominated David O’Reilly on Adult Swim shorts, and created music videos for Goldfish, Mike’s extensive background in art, design and animation undoubtedly gives Nifty League an edge on other web3 gaming projects. “Nifty League is the culmination and combination of so many passions of mine, and I’m thrilled that our new partners see the magic too. I couldn’t be more excited for the future,” said Mike Scott, Creative Director and Co-Founder of Nifty League. 

Investors’ Thoughts

“NFT gaming has exploded into a multibillion-dollar industry, and while most lack the commitment and community it takes to sustain success, Nifty League came roaring out of the gate with one of the most innovative P2E games to hit the market – establishing their position as a dominant force in this new frontier of the metaverse,” said Matt Higgins, Co-founder and CEO of RSE Ventures. “Nifty League’s minting process was brilliant, with characters reflecting tremendous artistry and ingenuity from the community. The concept of player input is simply lip-service on many other platforms, but Nifty League actually forged that commitment into the blockchain.”

This commitment has caught the attention of players, investors, and crypto enthusiasts alike.

Higgins continued: “Breakout success happens when you act on opportunity before the tipping point of evidence, and I believe the shift to P2E is a prime example of this given it’s a natural extension of what’s already happening with gaming in real life. Nifty League’s potential is limitless, and we’re thrilled to partner with Andrew and team as they continue scaling the platform and roll out new gaming options and experiences for their community.”

“The Nifty League team realizes that success in Web3 gaming will depend on creating games that are legitimately fun – and fostering rock-solid player communities behind them,” said Ben Lerer, Managing Partner at Lerer Hippeau. “We’re only at the beginning of competitive P2E gaming, and this team is uniquely positioned to create one of the strongest ecosystems in the space.”

Use of Funds

Nifty League plans to use this new capital to build out the team with key strategic hires, scale the platform, enhance their product offering and capabilities, and fuel awareness and engagement across their growing ecosystem.

Core Team

We’ve made several key hires in 2022, including a VP of Operations, DAO Director, and Program & Community Manager. Our development team continues to grow with the addition of a Sr. Backend Dev, and two new Full-Stack Web3 Devs. We are actively hiring Unity Developers and Full-Stack Web3 Developers to join the team. Check out our latest job opportunities!

Marketing

A significant portion of funding from our seed round will be used to drive awareness and engagement across the Nifty League ecosystem. We plan to work closely with our investors at Avocado Guild and EVOS Gaming to tap into web3 guilds and Esports for new player acquisition and onboarding. The team sees a massive opportunity given the competitive nature of Nifty Smashers (and future games) to build out our tournament infrastructure, including investing in product development to automate tournament play. Finally, our team is bullish on the future of Esports in web3, and will be among the first in the space to launch Esports teams at scale.

Our DAO & Guild Development

Nifty League will invest heavily in building out our DAO and Guild Ecosystem to ensure its success. Part of our funding will be dedicated to building software to support Guild acquisition and onboarding at scale, led by our DAO Director. Additionally, the Nifty League DAO and Guild has made several asset purchases including DEGEN NFTs, which will be used for incentives, scholarships, passive revenue, bounties, and tournaments.

Partnerships

Funding from this round will also be used to acquire land in popular metaverses such as Sandbox. Nifty League will use this land as a means to acquire new DEGEN owners, players, and partners.

Supporting the Round

In order to support the round of venture funding, the founders have given 90% of their original token supply to the investors, and agreed to mint an additional 33M NFTL tokens. In accordance with our agreed upon vesting schedule, 5.5M NFTL will be minted on the 15th of every month, starting March 15th, 2022, for 6 months, and allocated to our venture investors.

Thank You

We’d like to thank our devoted DEGEN community for your commitment as we welcome our new investors to the Nifty League family! We are BOLOISH 🙌 as ever for the future of the Nifty League ecosystem.

To stay up to date with our latest development, community and partnership updates, please join our Discord and follow us on Twitter.


More Stories

Cover Image for 30 reasons to be BOLOISH on Nifty League

30 reasons to be BOLOISH on Nifty League

Why you should be BOLOISH on Nifty League in 2022 brought to you by our community moderator Nard. The list is not ranked, but it is thoughtfully ordered.

Nifty League
Nifty League
Cover Image for Nifty Smashers Guide

Nifty Smashers Guide

Don’t have a DEGEN yet? Read our guide from community mod Sacx to help up your game in Nifty Smashers!

Nifty League
Nifty League