‘HQ Trivia Partners NFTs’ Raises $7 Million in a Seed Round

Internet Game, a new company that has been called “HQ Trivia meets NFTs,” has raised $7 million in an early investment round. Co-founder of HQ Trivia Rus Yusupov, ParaFi Capital, Dragonfly Capital, Dephi Digital, Uniswap Ventures, Collab+Currency, Gmoney, Milk Road, Ready Player DAO, and Magic Eden co-founder Zedd are among the investors in the seed round.

For entry to the game during the inaugural season's March launch, 8,000 participants had to mint NFTs  worth $2.2 million. The company used the money from those sales to buy more than $1 million worth of NFT rewards chosen by the gamers, including premium goods from collections including Bored Apes, Mutant Apes, Doodles, Azukis, and CloneXs.

In what the company called a “Squid Game-like” competition, each staked “Game Token” NFT permitted participation in five games spread over five days. After five rounds, those still alive received a “Metaverse Access Card NFT,” which granted owners free entry to all upcoming project events and unique mini-games. Each top-100 scorer received a blue-chip NFT from the prize fund.

It costs nothing to download or play the game. Anyone who correctly answered 12 multiple-choice questions posed by a live presenter would receive a portion of the game's prize pool. It awarded cash rewards worth $6 million during its existence.