Arcade, novel GameFi ecosystem, completes its seed funding round backed by clutch of top VCs
- Arcade GameFi completes seed funding round with $3.2 million secured
- Mission Pools launched to lower barrier for GameFi newbies
Fresh funding is set to supercharge next phases of Arcade marketing, promotion and tech development progress, as well as the synergy between the GameFi, NFT, DeFi and metaverse segments.
Arcade GameFi completes seed funding round with $3.2 million secured
According to an official announcement shared by representatives of the Arcade GameFi platform, its seed funding round has been successfully completed. A total of $3.2 million was raised by a clutch of highly reputable VCs.
Our seed raise was filled with heavy hitters, most of which are named here in Tech Startups overview! 👏🔥
— Arcade 👾 (@arcade2earn) October 19, 2022
The round was led by Crypto.com with KuCoin Labs, Solana Labs, Tenzor Capital, AlphaCrypto Capital, Highland Ventures, Flow Ventures, Panga Ventures, Hindsgaul Capital, WealthUnion, VKS, Khalili Brothers, Contango, PlutusVC and BigBrain also backing Arcade in its fundraising efforts.
Besides that, PARSIQ, Shima Capital, LD Capital, Capital, Rainmaker Games, Hotbit, GSR, Moonrock Capital, Non-Fungible Labs, W3I, Master Ventures, StarLaunch, Good Games Guild, Prometeus Labs, NxGen and Merit Circle also took part in the funding.
Xinly YU of KuCoin Labs, one of the most prominent investors in Arcade, stressed that the project’s mission looks exciting for his team in terms of massive adoption:
The fundamental difference between a GameFi project and traditional games are the former’s strong finance features. However, not everyone is good at playing or has time to play games and earn. This is where Arcade fills the gap by enabling those groups of people to enjoy earning yields through their specific products without directly playing the games themselves.
Mission Pools launched to lower barrier for GameFi newbies
Josh Finer of Solana Labs highlighted the importance of Arcade for bringing new users to Solana’s ecosystem of decentralized applications:
We are excited to support Arcade2Earn as it bridges the gap between DeFi and GameFi on Solana. Whether you are a passive spectator or avid gamer, the Arcade2Earn platform offers unparalleled exposure to the blockchain gaming ecosystem.
Arcade is a pioneer of the Mission Pools concept. Through its Mission Pools, Arcade enthusiasts can earn rewards by being engaged in play-to-earn activities without the need to own the proprietary in-game NFTs.
Also, Arcade is among the first major GameFi ecosystems to focus on cross-chain experience for all users with no regard to their level of gaming and blockchain skills.