GolfN Steps Up Play-to-Earn Golf After Raising $1.3 Million in Pre-Seed Funding Round
Blockchain golf project GolfN has closed a $1.3 million pre-seed funding round, supported by top investors in the Solana ecosystem, including CitizenX, Fourth Revolution Capital, Nom, and Joe McCann (Asymmetric Financial), among others.
The project plans to build a gamified Play-to-earn (P2E) mechanism for a physical sport. GolfN is the first golf app to empower its members to earn rewards for playing and engaging with a physical sport through the power of tokenization and digital collectibles.
After successfully building the P2E game, it intends to offer a premium digital caddie app to rival current market incumbents and pair it with Web3 rewards. Commenting on the upcoming plans, GolfN’s CEO and Co-Founder, Jared Phillips, said:
“Despite its high cost of play, golf has hooked nearly 67 million people globally. Currently, the more golfers play, the more they pay out. The free-to-use GolfN App will not only help users play better, but the more they play and engage, the more they will earn to play more and better golf.”
In March, the project released its Genesis Collection of NFT Golf Clubs on the Solana network through Tensor Launchpad, one of the leading digital collectible marketplaces. By owning clubs with differing rarities, gamers can earn scaling rewards in the GolfN ecosystem.
According to the team, the recent funding will be used to develop and scale the GolfN app, community, and ecosystem. The team intends to release the GolfN mobile application later this year, which is expected to bring GolfN’s Web3 gamification layer to the real-world game of golf.
With the app, players can equip their digital collectible golf clubs to earn rewards during each round, track side games, and organize leagues with friends. For those who didn’t purchase the GolfN digital collectible golf clubs during the mint, collectors will make rental NFT clubs available for monthly membership subscriptions.
With all these and more, GolfN intends to enrich the golfing experience for golf enthusiasts of all levels by redesigning golf engagement for the decentralized digital era.
