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Nitro League GameFi Secures $5 Million from Top VCs, SL2 Capital Led Round

Wed, 12/08/2021 - 15:23
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Vladislav Sopov
Gaming innovator Hotwire Studios shares details of fundraising for its newest product
Nitro League GameFi Secures $5 Million from Top VCs, SL2 Capital Led Round
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The Nitro League mobile racing-themed play-to-earn game concludes its strategic funding round with top-notch crypto-focused VCs on board.

Racing strategy Nitro League secures $5 million in funding

According to a press release shared with U.Today, Nitro League, a novel mobile racing game by a top-notch Hotwire Studios, successfully concludes its private tokensale round.

Nitro League completes funding round
Image by Nitro League

A total of $5 million were secured by a clutch of reputable VCs, including the likes of YGG Southeast Asia, Morningstar Ventures, Axia8 Ventures, Skyman Ventures, YGG Global, Double Peak, LD Capital, ExtraWatts, Calisto Capital, Infinity Ventures Crypto, NGC Ventures and Woodstock.

Prominent blockchain-focused VC conglomerate SL2 Capital led the round. Recently, the producers of Nitro League, software devs Hotwire Studios, also secured $10 million in funding from Tier-1 funds.

Nitro League created a sophisticated racing-themed strategy game. Its players can compete in racing challenges, race against each other, complete missions and form guilds of street racers.

Nitro League IDO to take place on Polkastarter on Dec. 13

The concept of non-fungible tokens is the core element of the product's tokenomics. All drivers, cars and other in-game items can be traded, exchanged, stored, and collateralized on third-party platforms as NFTs.

Nitro League CEO, Zaynab Tucker, stresses the unique and revolutionary character of the proposition of his project as well as its novel design and eccentric gameplay:

We're aiming to shake up mobile gaming with the latest technology on the market. It's not always about thinking up a new idea but just doing away with old ones. I believe we can leverage NFTs in a fun and lucrative way. You get the excitement of racing while building up your own niche community. It's the best of both worlds.

Yesterday, on Dec. 7, 2021, the project opened a whitelist for its initial decentralized exchange offering on Polkastarter. The IDO of NITRO will take place on this mainstream platform on Dec. 13.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)