Neopets gets $4M from Web3 leaders to bring virtual pets to the Metaverse through blockchain technology

Neopets, the massively popular virtual pet website that was launched in 1999, has raised $4 million in a funding round led by a group of web3 leaders to bring the classic game to the metaverse. The funding will be used to build a new version of Neopets that will run on blockchain technology, allowing players to own and trade their virtual pets and items on the blockchain.

The new version of Neopets called “Neopets V2,” will be a decentralized application (dApp) built on the Ethereum blockchain. This means that players will have true ownership of their virtual pets and items, as they will be recorded on the blockchain as non-fungible tokens (NFTs). This will allow players to trade their virtual pets and items with other players in a trustless and secure way, similar to how other blockchain-based games like CryptoKitties and Axie Infinity work.

The funding round was led by a group of web3 leaders including Polychain Capital, Electric Capital, and CoinFund, among others. In a statement, the CEO of Neopets, Adam Powell, said

“We’re thrilled to have the support of some of the most respected players in the web3 space as we embark on this exciting new chapter for Neopets. The metaverse is the natural next step for our community, and we can’t wait to see what they will create with the power of blockchain technology.”

The metaverse is a term that refers to a virtual world where users can interact with each other and with virtual objects in a shared space. It’s a concept that has been gaining a lot of attention in recent years, with companies like Facebook and Google investing heavily in the development of their own metaverse platforms. Neopets V2 will be one of the first metaverse dApps to be built on the Ethereum blockchain, and it’s expected to attract a large number of players who are interested in blockchain technology and the metaverse.

The new version of Neopets will also include several new features that are not possible in the current version of the game. For example, players will be able to create their own virtual worlds and games using the Neopets V2 SDK, and they will be able to monetize their creations by selling them to other players. This will create a new economy within the game where players can earn real money from their virtual creations.

The new version of Neopets will also include a decentralized marketplace where players can buy and sell virtual items using cryptocurrency. This will allow players to trade their virtual items for real money, creating a new economy within the game.

The new version of Neopets will also include a decentralized social network where players can interact with each other, share their creations, and participate in community events. This will create a new social experience within the game, where players can make friends and form communities based on their shared interests.

Overall, this is an exciting development for the Neopets community and for the blockchain gaming industry as a whole. The use of blockchain technology will allow players to truly own and trade their virtual pets and items, creating new possibilities for the game and the community. The support of web3 leaders and the incorporation of the metaverse will take Neopets to a whole new level, creating new opportunities for players to monetize their creations and creating a new economy within the game.

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however, no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the cryptocurrency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal, or accounting advice.

This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal, and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article. Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.

The post Neopets gets $4M from Web3 leaders to bring virtual pets to the Metaverse through blockchain technology appeared first on Visionary Financial.