NFT-based e-sports platform Mokens League raises $2 mn in seed funding

NFT-based e-sports platform Mokens League announced in a release on Wednesday the completion of their $2 million seed fund round.

The platform announced that the funds would be used to finish the development cycle of a game as well as to install and maintain game servers worldwide to provide a latency-free gaming experience.

The multiplayer game platform also announced the launch of its in-game currency, the MOKA token on the Polygon network, which will serve as the main utility token in the ecosystem of company-developed eSports games and in the future for third party games that get integrated into the Mokens League Platform. 

The platform further clarified that MOKA tokens will have a total supply of 500 million, and most of this supply will be held for distribution throughout Mokens League games. The rest of the supply will be spread across partners, marketing, liquidity management, and early investors.

“While we are thrilled and excited about the massive growth of crypto-based gaming, we can’t help but notice that there is a fundamental problem right now with existing ‘play to earn’ games that reward people for just spending time on a game that does not work. This is not fun or challenging and definitely not sustainable,” said Martin Repetto, CEO of Monsters League Studios LLC. 

The platform also announced in the release that MOKA holders can use their tokens, now available for presale, to purchase NFTs that can be used for games in Moken’s ecosystem.