Markets . 5 Aug 2022

"Play Now, Pay Later" Web3 Game Startup Halliday Secured $6 Million Seed Funding

by Sonam
"Play Now, Pay Later" Web3 Game Startup Halliday Secured $6 Million Seed Funding
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Halliday, a web3 startup founded by Akshay Malhotra and Griffin Dunaif, has raised $6 million in seed funding from prominent VCs, including Hashed, a_capital, SV Angel, Immersion partners, and Sabrina Hahn.

“We’re excited to announce Halliday and our upcoming launch of the first solution to enable ownership of blockchain game and metaverse assets through later payment,” tweeted the company.

The round was led by the prominent crypto VC a16z, according to the company’s blog post.

Halliday reduces the cost barrier for gamers to get involved in Play-To-Earn games through a buy-now-pay-later financing model. 

“It’s quite remarkable that video games, these virtual worlds, now have fully fledged market economies,” said Griffin Dunaif, the CTO of Halliday .“One thing we were struck by was that because these things have real-world value, it can be quite difficult to acquire them and have ownership, and one of the fundamental tenets of blockchain is that ownership.”

To assist gamers in playing quickly and affordably, the startup intends to avoid any penalty, fee, or interest charges. A user can buy a particular feature or in-game asset and start playing their game.

Why Halliday?

In most blockchain-based Play-To-Earn games, gamers must buy a feature or in-game asset to use. E.g. to use the play-to-earn gaming app Stepn you need to own their NFTs. But this could be changed through Halliday. 

Halliday has also planned to launch a gaming system where gamers can hold a particular asset for a promise of payment and use the game NFTs. 

But, they can't own it or sell it until they pay for it. If the price is not made on time, the asset control will go back to the Halliday, and users will lose control of their in-use game NFT. 

Therefore, to get control of the in-game asset, users will have to pay the fee and then enjoy the assets with full authority.