Draper Labs, the company behind blockchain collectible cats (CryptoKitties) received 607 ETH (currently valued at $172,084) just a week after its launch of Cheeze Wizards, the latest Ethereum-based game. Bryce Bladon, Dapper Labs co-founder revealed that the funds were raised as a result of 4,470 cartoon fighters being purchased by 973 players who intend to play the game.
In Cheeze Wizards, thousands of players who are represented as cheese-shaped cartoon wizards have to engage in combat for a grand prize that will be paid in ether tokens. The prize will be deducted from the funds raised through the sale of these digital fighters. According to Bladon, the first tournament for Cheeze Wizards will begin this summer and all wizards will have to duel until only one is left with the big cheese.
The co-founder also said:
“Players summon wizards, each of which is a non-fungible token (NFT)…The winner gets a portion of the losing wizard’s power … Using rock-paper-scissors logic, a winner is picked for each of the five spells cast.”
While the game is open to the general public, people residing in Arkansas, Arizona, Canada, Kentucky, Maryland, South Carolina, and Tennessee will be unable to be a part because Cheeze Wizards involves monetary prizes. Despite the unclear regulations in these regions, some players have found a way to use external players that will enable them to participate in the tournaments.
Dapper Labs, on the other hand, raised over $15 million in a round of funding in 2018 in order to expand locally and globally. The investment was made by the likes of Fred Wilson’s Union Square Ventures, Google’s GV, and Samsung Next. The NFTs in the Studio’s Cheeze Wizards game can also adopt unique traits that can be used elsewhere asides from the tournament which is comparable to its other game CryptoKitties.