SmartStateIndia
News

Play-To-Earn NFT Metaverse Trace raises 3.5 million USD; appoints Abhyudoy Das as their adviser

Abhyudoy Das trace

Play-To-Earn NFT Metaverse project, Trace recently raised over US$3,000,000 in a closed round of seed investments; through private investments by HNI investors. Additionally Trace also raised an additional 500K USD through NFT Sales on the platform. These investments shall be used to develop the Metaverse, work on marketing and acquisitions, as well as brand development. The project, currently a host to over 100,000 members across local communities, has also announced the appointment of Indian Crypto influencer, Abhyudoy Das as their advisor. Trace is a Geo-location based metaverse, which utilizes AR technology and is accessible via smartphones.

Commenting on his appointment and Trace’s entry into the Indian Market, Abhyudoy Das stated “For the Indian market Play-To-Earn games have a lot of potential to facilitate mass adoption specially in the crypto-currency market. The Gaming market in India has seen a massive growth over the past couple of years and currently shows no sign of decline. Considering the overall popularity and the kind of market penetration of the Gaming industry, we feel this is the perfect time to leverage this interest to facilitate mass adoption of the Crypto market. Trace offers players the potential to make money solely through the in-game features. Trace has already created an in-app marketplace, where players can buy and sell avatars, cars, car parts, boosters, and other game items, which is much more convenient for the users than searching for the necessary NFTs on third party marketplaces.”

The Drive & Earn and Move-2-Earn mechanic in the game allow the users to earn Trace tokens by simply driving around the world. The Tokens can then be utilised to mint and obtain additional NFT’s. The Trace project also will continue to offer new features via updates every six months to ensure replay-ability of the game for long term engagement. Explore & Earn, Play & Earn, Find & Earn are other offerings on the line which will be released in the later course of time.

Trace’s revenue includes income from brand collaborations, in-app advertising, commissions, and in-game purchases. Then it is distributed to rewards, token burning, and metaverse development. The utility token of the project is called ACE and it is unlimited. The Governance token is called TRC. The total issue of TRC is limited to 5 billion tokens only.

Abhyudoy has studied from KIIT University, IIM Kolkata and Drapers University. After earning his engineering degrees, he dove into the exciting world of crypto-currency and block chain management. He started his first venture YouthTech at the age of 18.

Having led his ventures to success, Abhyudoy now plans to work towards mass adoption of crypto in India, building a transparent and successful crypto ecosystem in the country. He is also recognised among the Top Crypto Influencers in India right now.

Trace is a geolocation-based metaverse with AR technology for smartphones; founded in 2018. It took 4 years to complete the development due to its complexities. Being the first Drive to Earn Crypto project, Trace Metaverse breaks down the barriers between the digital and the physical, allowing people to interact with digital objects right in the real world.

Related posts

AI-powered personal & professional transformation platform, Genius Inside launches ‘26 Week Adventure of Self Transformation’

SSI Bureau

Yotta NM1 Achieves OIX-2 Certification

SSI Bureau

Eventus TechSol Inaugurates New Security Operations Center (SOC) in Ahmedabad

SSI Bureau

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More