Dragonz Lab secures $9M investment in Abu Dhabi, October 2024

In Abu Dhabi, UAE, on October 9, 2024, Dragonz Lab, a UK-based Web3 gaming studio, announced a significant funding round of $9 million led by Syndicate Capital Limited Partnership Fund (LPF). This venture fund specializes in investments related to Web3, Blockchain, and AI, aiming to enhance the digital economy. The funding will be utilized to further develop the Dragonz Land ecosystem, which currently has over 5.3 million monthly active users. Enhancements will include new features such as player-versus-player tournaments, strategic guild collaborations, and a customer loyalty program. The game allows players to buy, collect, level up, and trade cards across 16 distinct factions while earning in-game tokens through various tasks. The partnership with Syndicate Capital LPF is seen as a pivotal step for Dragonz Lab, as it aims to bolster game development and provide users with innovative digital assets and property rights. This investment marks a significant transition for Asian venture capital from Web2 to Web3 gaming. Dr. Albert Yip, Chairman of Syndicate Capital Group, emphasized that Dragonz Land represents the future of gaming, combining successful customer loyalty programs with the excitement of GameFi and innovative blockchain technology. The project is set to deliver its tokenomics and additional features in the coming months, reinforcing its commitment to user growth and community engagement. This strategic investment not only enhances the gaming experience but also aims to increase user acquisition and retention in the rapidly evolving Web3 space.