SNKRZ, a Seoul, South Korea-based Move-to-Earn (M2E) platform, raised a funding round of undisclosed amount.
Game developer Wemade (known for its MMORPG Legend of Mir series in over 170 countries) became SNKRZ’s biggest investor.
The company intends to use the funds to continue building innovative features and create a more sustainable M2E economy.
NKRZ is a M2E fitness platform that allows users to exercise with their NFTs (3D sneakers) and earn rewards in coins. Users are incentivized to reinvest their earned coins back into the platform to repair the shoes, level up, and even breed new NFTs. In addition, users can create a shoebox, change, and customize shoe skins, and sell NFTs in-app and through open marketplaces. The platform offers engaging and entertaining features while also providing health benefits by recording users’ exercise data, including steps count, distance traveled, and calories burned.