Player Lands, a Nottingham, UK-based blockchain technology powered marketplace for online gamers, secured £200k in funding.
Backers included the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia Fund Managers and part of the Midlands Engine Investment Fund.
The company intends to use the funds to bring their idea to market.
Co-founded by Alex Booth and Nick Gillett, Player Lands aims to allow gamers with no previous experience of e-commerce to open online stores and sell the content they create or find while playing. It will give shopkeepers their own customizable store, together with tools to manage inventory, market their products and run promotions, while also providing reporting to increase sales.
The blockchain technology will create a completely transparent public ledger for each item traded.
Booth is a serial entrepreneur who also has a yacht and private jet hire business while Gillett is an angel investor and the founder of London-based digital agency C360, which he sold in 2006. They set up Transaction Technologies in 2016 to pursue the idea.