Estonian metaverse startup Cardalonia raises $420K for a blockchain-based game

The Tallinn-based metaverse startup Cardalonia has raised $420,000 to develop its blockchain strategy game. It is the first metaverse project based on the Cardano blockchain, according to the startup’s press release.

  • Founded in 2021 by Alice Sand, Cardalonia develops virtual world where players can build, own, and customize their own experiences on the Cardano blockchain.
  • The game is based on a P2E (pay to earn) concept. Players will be able to play it while they earn and spend in-game money, called Lonia tokens.

“We are on a mission to develop a creator friendly and interactive platform that will surpass already existing metaverse giants like Decentraland and Sandbox which are built on the Ethereum blockchain,”

Cardalonia CTO Vasil Air says about the project.
  • The startup completed the $420,000 pre-seed funding round in January. More than eight investors, including blockchain players led by Hedgespur Capital took part in the round.
  • Cardalonia ecosystem is powered by Cardano. It is a 3rd Generation POS Blockchain. One Cardano token is worth about $0.92 at the time of release. Its recent highest value was at $1.21 on April 4, 2022.
  • The fresh funding will help Cardalonia kick off the project, enter strategic partnerships, onboard more developers, and also bring more enthusiasts into the Metaverse space.