The startup has developed a fantasy car racing platform utilizing blockchain technology to provide players with true ownership of in-game and metaverse assets. This platform enables players to earn revenue through various game modes and ownership of digital property, addressing the lack of monetization options in traditional gaming.
Funding
$2.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional online racing games often lack true ownership and monetization opportunities for players, with in-game assets being controlled by the game developers. This prevents players from directly benefiting from their time and effort spent within the game.
Solution
RaceFi is a blockchain-based racing game that provides players with verifiable ownership of in-game assets represented as NFTs, enabling a play-to-earn model. Players can acquire, upgrade, and trade cars, participate in races, and develop land within the Race City metaverse. The platform uses a dual token system, RACEFI for governance and RCOIN as an in-game currency, to facilitate transactions and reward active participation. By integrating blockchain technology, RaceFi aims to create a player-owned ecosystem where users can earn real-world value through their gaming activities.
Target Audience
RaceFi targets crypto enthusiasts and racing game players interested in play-to-earn models and true ownership of in-game assets.
Features
- NFT-based car assets with varying rarity and performance characteristics
- RACEFI governance token for voting on game development and ecosystem changes
- RCOIN in-game token for race entry fees, upgrades, and marketplace transactions
- Race City metaverse with land ownership and development opportunities
- Multiple game modes, including player-vs-player races and time trials
- NFT marketplace for buying, selling, and trading in-game assets
- Integration with crypto wallets for secure asset management