Gameplay Galaxy Secures $12.8 Million in Funding to Build Web3 Competitive Gaming Platform

The creators of Trial Extreme will use the fresh funds to develop a decentralized competitive gaming ecosystem featuring multiple extreme sports games on Web3.

Sep 9, 2022
by Akira Ming
Gameplay Galaxy Secures $12.8 Million in Funding to Build Web3 Competitive Gaming Platform
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What you need to know about Gameplay Galaxy's latest fundraise

Gameplay Galaxy, the creator of Trial Extreme, has raised $12.8 million in funding to build out its Web3 competitive gaming ecosystem. Blockchain Capital led the round, with participation from Merit Circle, Com2uS, Mysten Labs, Solana Ventures, Yield Guild Games, and Hustle Fund.

To those who don't know, Trial Extreme is a blockbuster Web2 gaming series with over 250 million downloads. Players can take part in many realistic skill-based racing games and compete against others to climb the ranks. Now that Gameplay Galaxy has a bigger war chest, the firm plans to build out its Web3 platform and add new games to it, starting with Trial Extreme. 

According to Gameplay, each of its games will offer players the chance to own vehicles, racetracks, characters, workshops, and other items as NFTs. These will all be tradeable in the open markets. Gamers can also earn active income by participating in tournaments or hosting tournaments for others to compete in. They will earn tokens from the winning matches, which can be redeemed for a Web3 wallet later. 

"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 CEO of Gameplay Galaxy. "Our players are always our focus, and we are also keenly aware of the need to advance the gaming industry's business model and are proud of the role this launch will play in that evolution."

Apart from adding new games and features to the platform, Gameplay Galaxy aims to ease onboarding for Web2 users as well. This is no doubt a must-do to attract more non-crypto native users to the realm of Web3 gaming. 

Needless to say, many investors and VC firms remain bullish on the outlook of blockchain gaming. Last month, Animoca Brands Japan secured $45 million to foster local efforts in this space. And Swiss-based developer Xterio raised $40 million to create mobile Web3 games. 

There's also a rumor going around that Singapore's state investment fund Temasek will lead a $100 million funding round for Animoca Brands. Guess what? This has just turned out to be true, according to the latest announcement by Animoca. 

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