Star Atlas closes seed round with Serum leading funding

Metaverse gaming meets decentralized finance

Efforts include:

  • Decentralized Finance
  • Lending
  • Automated Market Making
  • Yield Farming
  • Non-Custodial Accounts
  • High-Speed Trading
  • Gaming Economics

Star Atlas, the AAA space exploration strategy game and blockchain-driven virtual metaverse development company announces the closing of its seed round led by Serum and MoonWhale Ventures. Star Atlas is developing a unique gaming experience by combining blockchain mechanics, DeFi, and high-stakes PVP with traditional game mechanics. FTX and Alameda Research are core ecosystem advisors of the Serum Foundation which launched Serum, a complete, non-custodial spot and derivatives exchange running on an on-chain central limit order book (CLOB) on Solana’s mainnet. An active in-game economy and a high volume of trading means Star Atlas users will require a feature-rich marketplace to manage all of their asset transactions. With nearly instant settlement, virtually zero operating costs, and a robust API for DeFi tools, Serum’s decentralized exchange (DEX) protocol fulfills the needs of the Star Atlas economy and the future of gaming.

Over the past 8 years I have been involved in countless blockchain communities. The early support and encouragement we have encountered building in the Solana ecosystem has been nothing short of extraordinary. The confidence Serum and MoonWhale Ventures demonstrated in us through their financial commitment to Star Atlas development further solidified our resolve to undertake the massive vision of the game. Growth in development surrounding Serum and Solana has exceeded all expectations. I anticipate we see, and I would encourage, many talented founders transition projects to the protocol over 2021 and beyond.

Michael Wagner, CFA, Co-Founder & CEO, Star Atlas

Star Atlas Economics

A key driver of value within the Universe of Atlas is the monetary reward system via robust, well-balanced economics, supported by both in-game and blockchain mechanics. Star Atlas is driven by a dual token system, ATLAS & POLIS, with multi-token Solana SLP support.

ATLAS: In-Game Transactional Currency

ATLAS will serve as the native in-game currency within Star Atlas. It is the lubricant of the metaverse. Players will initially utilize ATLAS to acquire digital assets such as ships, crew, components, land, and equipment at discount in the NFT Sale. However, as in any real economy, a financial system is necessary to facilitate commerce. Whether it be through NPC merchants, or direct peer-to-peer transactions, ATLAS is the unit of account to facilitate trade and execute operational requirements.

Twenty percent of the game currency will be available through various stages of the Galactic Asset Offering (GAO), leading up to the full launch of the title. Upon completion of the GAO, the remaining 80% of ATLAS can only be earned through in-game activity or sales by other players (white paper).

It’s fantastic to have the support of our backers as we build the origins of Metaverse Gaming on the Solana blockchain. We want our users to experience a meta reality — whether its strategy games, meetings in outer space, virtual concerts or digital amusement parks. The capital, knowledge and relationships our investors bring to Star Atlas enables us to build.

Pablo Quiroga, Co-Founder & COO, Star Atlas

POLIS: Governance Token

Within the Star Atlas metaverse, political influence is yet another strategic consideration in the management of the territory and the navigation of space. Controlling this political influence introduces a number of advantages for player status, which is represented by the POLIS token. Holders of POLIS will be in a unique position of jurisdictional ownership over entire regions, regardless of who owns title (NFT) to the land and equipment rights. Externally, control of POLIS will enable the gaming community to influence the decision-making of the Star Atlas development team. Following the GAO, the exclusive ability to generate POLIS relies on the staking of ATLAS currency.

Star Atlas has a lot of potential with its remix of sci-fi-strategy, combat and deep space exploration. The massively multiplayer online role-playing game (MMORPG) powered by the Solana Blockchain, injected with smart NFT elements to collect, trade and incentivize gamers, is not only exciting for crypto-fans but also ‘no-coiners’ will find joy in this cool universe.

Danny J. Christ, Managing Partner, MoonWhale Ventures

Star Atlas DeFi System

Serum is on a mission to decentralize the entire DeFi stack. By building on Solana, the Serum Foundation is enabling the best of both centralized and decentralized worlds: an exchange that is censorship-resistant and non-custodial and that is fast, inexpensive, and highly liquid. This is only possible because Solana enables Serum to run a CLOB that updates every 400 milliseconds.

Gaming is an exciting use case for the Solana blockchain and Serum Ecosystem. I look forward to exploring the Star Atlas metaverse.

Sam Bankman-Fried, CEO, FTX and Alameda Research

Leveraging Serum protocol enables Star Atlas players to participate in decentralized finance activities through a unique in-game interface. “We have an opportunity to gamify financial literacy in a format that has never been delivered before,” says Michael Wagner, CEO of Star Atlas.

Players will engage with DeFi instruments throughout the financial epicenters in the game. DAO cities — the guild system of Star Atlas — are a likely location for the rise of these financial centers, permitting the creators to establish their own fees for trading in their facilities. Feature integrations for the alpha rollout of Star Atlas include:

  • Lending Markets: Loaning a variety of Solana/Serum assets to earn on-chain yield
  • Automated Market Making: AMM on various asset pairs to earn trade fees
  • Yield Farming: Identifying assets to borrow at a lower yield, and lending/trading with a higher yield, earning the spread on assets
  • Staking: Pledging assets in support of chain governance to earn additional rewards
  • NFT Marketplace: In-game marketplace decentralized asset management

Star Atlas is uniquely positioned to create a revolutionary gaming environment built on an unmatched DeFi engine with combined financial, operational, and technical support provided by Alameda Research, FTX, Serum, and Solana.

About Star Atlas

Star Atlas is a virtual gaming metaverse emerging from the confluence of state of the art blockchain, real-time graphics, multiplayer video game, and decentralized financial technologies.

Real-time graphics technology using Unreal Engine 5’s Nanite allows for cinematic quality video game visuals. Blockchain technology using the Solana protocol established a largely serverless and secured gameplay experience. Non-fungible tokens obtained and traded within Star Atlas creates an economy that replicates the tangibility of real world assets and ownership. To learn more, please visit: staratlas.com

About Serum

Serum is a decentralized exchange (DEX) and ecosystem that brings unprecedented speed and low transaction costs to decentralized finance. It is built on Solana and is completely permissionless.

About Moonwhale Ventures

Moonwhale provides Blockchain projects with financial, technical and operational support via our network to institutions, industry and commerce across Asia. We connect Blockchain/DeFi with ‘real-world’ businesses and institutions.

Press Contact

press@staratlas.com

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