Nikolas Sargeant
Dragonz Lab, a Web3 gaming studio originating from the UK, announced on Tuesday, October 9th, that it had raised $9 million in a funding round led by Syndicate Capital Limited Partnership Fund (LPF), a venture fund specializing in Web3, Blockchain, and AI investments.
This investment aims to enhance the development of Dragonz Land, a utility-driven Play-2-Earn game, promoting digital property rights and Web3 ecosystem.
With the help of Syndicate Capital LPF, Dragonz Lab plans to use the funds to further develop Dragonz Land’s ecosystem, which already boasts a base of over 5.3 million monthly active users. The team will use the funds to enhance the game’s features, such as PvP tournaments, strategic guild collaborations, and customer loyalty programs.
Dragonz Land combines unique NFT cards with dynamic gameplay and community engagement. Players can buy, collect, level up, and trade cards across 16 distinct factions while earning in-game tokens through tapping and completing various tasks.
While commenting on this investment, Andy Chen, Representative of Co-General Partner of Syndicate Capital LPF and Board Member of 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. This strategic investment and synergy will bolster our game development while providing our users with innovative digital assets and digital property rights to increase user acquisition and retention in the Web3 spaces.”
The game is currently available on mobile and desktop via Telegram and leverages blockchain technology for secure transactions and true ownership of digital assets.
As a VC firm, Syndicate Capital LPF is targeting the growing tap game market, as many titles have struggled to retain traction. The investment also markets the firm’s entry into the Web3 Play-2-Earn ecosystem.
Dr. Albert Yip, Chairman of Syndicate Capital Group, also commented that,
“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 Land will deliver its tokenomics and additional features in the coming months. It is a Trading Card Game in which players buy, collect, merge, and evolve NFT cards to increase their power, rarity, and value. The cutting-edge Web3 MTG-style trading card game is implemented into a tap-to-earn system using features like claiming Game Cards NFTs, and KOL/Heroes guilds.
Meanwhile, Syndicate Capital Group is the Investor Champion and Corporate Champion of Global Fast Track, aiming to support fintech and CBDC initiatives globally. It is the Co-General Partner of Syndicate Capital LPF, a Web3 venture fund with a special focus on investments in the digital economy. Syndicate Capital Group is a Web3 investor in the investor network at Cyberport, which is positioned as the Web3 Hub in Hong Kong.
