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Despite a broader lull in the crypto market, blockchain-focused companies are seeing a continued influx of investment. One of the latest is next-gen sports platform Stadium Live, which recently completed a new round of investment.

It is now valued at $32 million

According to a recent report by TechCrunch, Stadium Live Inc, developer of the digital world maker platform Stadium Live, recently closed a Series A funding round. The new investment round has raised the company a record $10 million since its inception in 2020.

KB Partners and Union Square Ventures led this investment round, while Kevin Durant’s venture arm, 35 Ventures, and Blaise Matuidis Origin Funds participated in the transaction. Dapper Labs Ventures, Position Ventures, Valhalla Ventures, 6th Man Ventures, Alumni Ventures and Breakout Capital also participated in the funding round. The new investment round brings Stadium Live’s net worth to $32 million after previously raising $3 million in January 2021.

Commenting on the funding round, company CEO and founder Kevin Kim said the investment is aimed at expanding the project’s services to reach the next generation of fans. To that end, the vast majority of the newly raised capital would focus on hiring engineering and product talent to bring even more features to market that would foster engagement with its teeming group of young fans and help improve the ones they created monetize content.

Stadium Live has grown into a major hub for all things esports since it hit outer space over the past two years. The platform allows users 12+ to choose and edit their avatars, buy and own digital collectibles, generate experience points (XPs) by building teams during live streams and sports games, chat with other players, and participate in several others Activities participate platform.

Much of the funding will be used to launch the Stadium Live app, which is currently unavailable to Android smartphone users. The team believes that the new version should appear in October or November this year.

Stadium Live solves the sport’s negligence

The last few years have been tough for sports fans. This is largely due to the global lockdown orchestrated by the Covid-19 pandemic. Given the viral nature of the respiratory illness, sports games have been held behind closed doors, preventing most fans from seeing their favorite teams and players in action. This has led to the creation of a new wave of sports fans who are happier watching their teams’ live streams at home.

Even as sporting activities are slowly returning to normal, the shift to other digital entertainment media hasn’t been able to garner the sports industry as many fans as it used to. Speaking on the matter, Kevin Kim said the sports industry has been pretty lax in adapting its services to this new generation of fans. In his opinion, Stadium Live represents a sympathetic solution for the young aspiring fans.

Since its release, Stadium Live has already gained over 500,000 users and the app is not slowing down. The development team says there are currently several updates in the pipeline, one of which is the concept of “clubs”.

Explaining the idea behind this, Kim said the “Clubs” feature would allow users to create micro-communities around the topics they love. This would primarily focus on sports and club owners can leave questions and trivia for others to engage with. Another feature is “Rooms” where users can create virtual rooms to store avatar items and perform other activities such as B. hosting events and watching parties.

Battle Infinity is taking the industry by storm

Stadium Live’s recent funding is a testament to the growing utility of the blockchain economy. One of the most promising fantasy sports projects is Battle Infinity. One of the best play-to-earn games, Battle Infinity combines the concepts of play-to-earn (P2E) with NFTs and allows users to join multiple games from the comfort of their own home.

The platform also taps into the Metaverse ecosystem via its IBAT Battle Arena. In this way, players can interact with each other, observe, perform and explore the virtual landscape. Battle Infinity is currently in the pre-sale phase and early bird investors can get the IBAT token for $0.0015. First, visit the presale website.

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