Limit Break, a blockchain-based gaming company and provider of free-to-own online gaming based in Park City, has acquired FreeNFT, a California-based firm that gives away non-fungible tokens (NFT) to collectors. The deal is expected to close before the end of March. Financial details were not disclosed.
“Limit Break is thrilled to announce its latest initiative aimed at growing the NFT ecosystem and bringing Web3 into a new era,” Limit Break said in a release. Through this initiative, collectors will gain the opportunity for free NFTs and developers will gain access to a powerful promotional tool to launch their own free NFTs, the company said.
FreeNFT, founded in late 2022 by Silicon Valley entrepreneurs Igor Lenterman, Lucas Lenterma, and Harvey Pratt, specializes in promoting NFTs to build community. The company spotlights Web3 gaming and NFT projects to its community of followers while limiting non-human participants, known as bots. The company creates custom whitelists, performs deep analytics of registrants to ensure audience integrity and hosts its own mints.
“We welcome FreeNFT’s founders to what will surely become the most rewarding NFT distribution platform on Earth,” said Gabe Leydon, CEO of Limit Break. “We will create a more participatory and vibrant NFT community where creativity and innovation thrive. This launchpad will give developers the opportunity to showcase their talents and reach a broader audience, while collectors enjoy the benefits of being a part of the growing free-to-own ecosystem Limit Break sparked with its DigiDaigaku collection last summer.”
Limit Break, founded in 2021 by Leydon and partner Halbert Nakagawa, gives away NFTs, as it did during this year’s Super Bowl, via a QR code and interactive advertising.
Leydon, who promotes his company’s NFT giveaways primarily through notices on Twitter, now has over 1.1 million Twitter followers. Limit Break raised $200 million in an initial funding round in August 2022.