Gameplay Galaxy, an emerging player in the blockchain gaming industry, has recently closed a seed extension round amounting to $11.17 million. This latest funding round has propelled the company’s total valuation to $71 million, with a cumulative funding of $24 million. The primary use of the funds from this seed extension round will be to further develop Trial Xtreme Freedom, the company’s inaugural blockchain-based game. Yet, beyond the immediate goal of game development, Gameplay Galaxy has set its sights on revolutionizing how gamers engage with digital assets within an extreme sports ecosystem.
The design of the funding round orchestrated by Gameplay Galaxy has stirred considerable interest within the blockchain community. Unlike traditional equity rounds prevalent in the gaming and tech sectors, or the expected initial coin offering (ICO) model typical of blockchain companies, Gameplay Galaxy has adopted a hybrid structure combining equity and token warrants. This innovative approach has garnered attention and commendation within the blockchain community, as it offers investors a blend of equity ownership and token rewards. Token warrants represent a modernized iteration of traditional equity investments, merging the security of ownership with the potential upside of appreciating tokenized assets in fast-evolving markets like blockchain gaming.
With the recent influx of funds, Gameplay Galaxy is gearing up for rapid expansion. The company is poised to venture into new gaming markets and is gearing up to introduce a fresh business model in the near future, aimed at establishing strategic partnerships with prominent brands and gaming influencers. By focusing on enhancing its brand presence and forming alliances with key industry players, Gameplay Galaxy seeks to solidify its position as a leading player in the blockchain gaming realm.
Trial Xtreme Freedom, the flagship blockchain game developed by Gameplay Galaxy, is slated for a full launch in the first quarter of the upcoming year. Currently in its soft launch phase, the game distinguishes itself from traditional gaming platforms by integrating web3 elements such as blockchain-driven progression and digital asset ownership. A portion of the raised funds will be allocated towards streamlining the onboarding process for Web2 users and incorporating wallets and other web3 functionalities to enhance the overall user experience.
Doron Kagan, co-founder and CEO of Gameplay Galaxy, envisions blockchain gaming as the next evolutionary phase in the gaming industry. By amalgamating web3 features with conventional gaming mechanics, the studio aims to establish itself as a frontrunner in this emerging landscape. As the platform gains traction and expands its user base, Gameplay Galaxy anticipates a corresponding increase in its valuation. The company is strategically poised to engage major brands and key opinion leaders (KOLs), with the objective of further augmenting its user base and solidifying its standing within the blockchain gaming sector.
The recent investment round secured by Gameplay Galaxy, structured with token warrants, may offer insights into the future trajectory of investments within the blockchain gaming domain. As companies within this sector experiment with hybrid funding models, the allure of token warrants combining potential returns with equity security emerges as a compelling option for gaming investments. This innovative approach to fundraising could potentially shape the investment landscape within the blockchain gaming industry moving forward.
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