Gameplay Galaxy has raised $12.8 million in funding to launch a new blockchain venture that will focus on investments in Web3 decentralized games. The funding of Gameplay Galaxy venture will allow Galaxy to invest in promising games and gaming infrastructure which will bolster the growth of web3 competitive gaming ecosystem.
The seed round was steered by Blockchain Capital and six investors including Merit Circle, Com2uS, Mysten Labs, Solana Ventures, Yield Guild Games and Hustle Fund and will give out wallets to its customers.
“The advent of Web3 has resulted in an open field of creative opportunities for game creators. Gameplay Galaxy has designed a new ecosystem that harnesses the full power of Web3 to provide a much more exciting and interactive gaming experience for our players,” said Doron Kagan, Founder and Chief Executive Officer of Gameplay Galaxy.
Gameplay Galaxy strengthening internal game division
Additionally, the company is also developing its own core gaming department, to build fascinating games with Web3 features, design and will build a wallet offering where people will get rewarded with non-fungible tokens.
“The Web3 space has delivered innovations we couldn’t have possibly predicted even five years ago and now, we are thrilled to bring forth the newest innovation: decentralized competitive games that are owned and operated by the players themselves,” said Maya Gurevich, Founder and Chief Operating Officer of Gameplay Galaxy.
Gameplay Galaxy partnerships to build gaming assets
While blockchain games have been provocative, Gameplay Galaxy believes that they will be an on incline for loads of participants to use blockchain, the transparent and secure digital ledger.
“Our Web3 ecosystem enables players anywhere in the world to play an active role in how the game is played, as well as to group into guilds and take part in game ownership and enjoy the financial upside of the game’s success. This coupling of rich gameplay experience with profitability potential, all on a Web3 platform – is a first-of-its-kind model and an important next step for the gaming industry overall.” said Doron Kagan, Chief Executive Officer of Gameplay Galaxy.
Gameplay Galaxy has also been establishing gaming assets and entering collaborations to power marketplaces for games like blockbuster Web2 gaming series Trial Xtreme, which reached over 250 million downloads across a variety of bike racing games.
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