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For those who are not familiar with the cult game mahjong. There are several types of this Asian game. The Japanese version is riichi mahjong and is the most popular. Chinese classic mahjong, Sichuan mahjong, Sports mahjong (could get Olympic status).

In case of Meta Mahjong It's about Riichi Mahjong. There are over 500 million mahjong players in the world and the overall market looks attractive. And while this version of mahjong can be called the first mahjong in Web3 and they simply have no competitors.

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Mahjong Meta is an on-chain mahjong platform. I plan to create my own metaverse with avatars and mini-games. In general, this is a competitive game without the ability to play Free-to-Play. Only stakes with tokens against other players. Thanks to this, there is no need to worry about the stability of the token economy. Players make bets and the reward is distributed among the winners, and a part of the commission goes to the developer.

And now, in fact, the announcement comes out that the team is attracting $ 12 million. not from someone else, but from quite good tier-2 venture funds: Dragonfly capital, Folius Ventures. Find Satoshi Labs (STEPN) Parallel Ventures, Emoote, Meteorite Labs also participated in the rounds.

What did the team show to raise that amount in a bear market?

  1. The game has already been launched, albeit in a minimal version, but you can already play.
  2. According to information from open sources, the core team consists of Ex-Tencent, ex-Netease, ex-Pubg and other majors in the gaming industry, but the team can be called anonymous because. no photos, no LinkedIn links.
  3. 15000 players in the test version (not specified alpha, beta or soft launch) and about half a million games played.
  4. The trading volume of the collection on Ethereum is about $900k, which is quite modest. Which even with a 5% royalty does not create even $50k in revenue.
  5. Medium-sized social network. For example, 50k twitter.

Apparently, those who conducted Due Dilligence know better either there is some kind of cunning plan or we do not know all the details.

The project as a whole looks mysterious, but there is an observation that Japan-based projects are not uncommon. Perhaps time will show whether this is a hidden gem or a murky scheme involving large funds.


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