Decentralized gaming platform Unitopia has recently received a total of $5 million in funding from multiple financial services companies.

Unitopia, the blockchain research lab of Chinese video game development firm Electronic Soul, has captured the interest of local startup investment corporate Shuimu Fenghua Fund, investment management company JUN Joint Venture alongside three other companies, and raised $5 million in a corporate round, as per the press release, according to Chinese media outlet BiShiJie.

Unitopia revealed that the capital will be used to fund research and blockchain-powered game development, which ultimately contributes to the maturity of the blockchain industry. The project’s centerpiece will be a gaming platform leveraging blockchain technology, which the firm allegedly claimed to be a not-so-different version of Steam, a gaming-inclusive digital distribution platform that produced the acclaimed Half-Life game series.  

Earlier this month, Donald Tapscott, Blockchain Research Institute Executive Chairman, allegedly regarded China’s Renminbi (RMB) asset as a cryptocurrency, with blockchain technology of major role in the country’s future technological development.

Meanwhile, a report by China’s official information portal revealed that about a quarter of the world’s blockchain initiatives originated from China, which, in turn, makes China the most prominent player in the blockchain industry, as reported by The Crypto Sight on April 4.