Stadium LiveDespite a broader crypto market lull, blockchain-facing companies are seeing a continued inflow of investments. One of the latest is next-gen sports platform Stadium Live which has recently bagged a new investment round.

Valuation Now Pegged at $32 Million

According to a recent report by TechCrunch, Stadium Live Inc, developers of the digital world maker platform Stadium Live, recently concluded a Series A funding round. The new investment round has seen the company raise a record value of $10 million since launching in 2020.

KB Partners and Union Square Ventures spear-headed this investment round, while Kevin Durant’s venture arm, 35 Ventures, and Blaise Matuidi’s Origin Funds played a part in the deal. 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 puts Stadium Live’s valuation at a net value of $32 million after previously raising $3 million in January 2021.

Commenting on the funding round, the company CEO and founder, Kevin Kim, said the investment would be geared towards broadening the project’s services to reach the next generation of fans. To this end, the vast majority of the newly raised capital would be focused on hiring engineering and product talents to launch even more features that would boost the retention of its teeming group of young fans and help monetise the content they create.

Stadium LiveStadium Live has become a major hub for anything sports-related since breaking into the space in the last two years. The platform allows users aged 12 and above to select and edit their avatars, buy and own digital collectibles, generate experience points (XPs) by drafting teams during live streams and sports matches, chat with fellow players, and engage in several other activities on the platform.

Much of the funds will be used in rolling out the Stadium Live app, which is currently unavailable for Android smartphone users. The team believes the new release should be within October or November this year.

Stadium Live Solving Sport’s Negligence

The last couple of years has been tough on sports fans. This has been largely due to the global lockdown orchestrated by the Covid-19 pandemic. Given the viral nature of the respiratory disease, sports matches have been held behind closed doors, hindering most fans from watching their favourite teams and players in action. This has led to the creation of a new wave of sports fans who are more content watching live streams of their teams in their homes.

Even though sports activities are slowly returning to normalcy, the sports industry has not been able to attract the number of fans it used to due to the switch to other digital entertainment means. Kevin Kim spoke on this issue and said the sports industry has been quite negligent in adapting its services to this new generation of fans. According to him, Stadium Live presents a likeable solution for the young budding fans.

Stadium LiveSince its release, Stadium Live has already racked up over 500,000 users, and the app is not slowing down. The development team says several updates are currently in the pipeline, one of which is the concept of ‘Clubs’.

Explaining the idea around this, Kim said that the ‘Clubs’ feature would allow users to create micro-communities around the subjects they love. This would mostly be focused on sports, and club owners will be able to drop questions and trivia for others to engage with. Another feature is ‘Rooms’, where users can create virtual rooms for holding avatar items and performing other activities, like hosting events and watching parties.

Battle Infinity Taking the Industry by Storm

The recent funding of Stadium Live is a testament to the growing utility of the blockchain economy. One of the most promising fantasy sports projects is Battle Infinity. Combining the concepts of play-to-earn (P2E) with NFTs, Battle Infinity, one of the best play-to-earn games, will allow users to participate in multiple games, all from the comfort of their homes.

battle infinity low supply cryptocurrencyThe platform also taps into the metaverse ecosystem through its IBAT Battle Arena. This will allow players to interact with one another, watch, perform, and explore the virtual landscape. Battle Infinity is currently in its presale stage, and early-bird investors can get the IBAT token for $0.0015. To get started, visit the presale website.

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