GamerGains raises $5.8 million in Cadenza Ventures led seed round to launch and scale its platform
The Miami-based company secures $5.8 million in seed round to develop its platform and offer immense value to community members.
GamerGains recently announced that it had received $5.8 million in funding from a seed round led by Cadenza Ventures. High-profile tech companies that participated in the funding round include FTX, Alumni Ventures, Winklevoss Capital, Tiger Global, Lightbank, BlockFi, etc.
Jon Brovda founded the Miami-based startup with the vision to combine the passion for traditional PC and console gaming with Web3 innovations, allowing gamers at all levels to play and earn through fair, transparent challenges, contests, and tournaments. Through GamerGains, players can earn rewards from their gameplay without any prior crypto gaming experience or a digital wallet.
Additionally, the company’s official token ($GAMER) will be used to incentivize gamers to play AAA games on the platform, and the token will provide access to the GamerGains features.
According to Max Shapiro, Co-Founder and Managing Partner of Cadenza Ventures:
"GamerGains possesses key elements we look for in an investment: a large addressable market, well-defined and compelling products or services with a clear competitive advantage, and an outstanding team.”
Furthermore, Kooshul Jhaveri, an Investor at Tiger Global added:
“The combination of gaming and Web3 presents exciting opportunities. GamerGains has demonstrated the clarity to focus on the most dedicated gaming enthusiasts with deep and durable communities.”
This recent funding will go a long way in improving the company's infrastructure and supporting the launching and scaling endeavors.