MagicCraft Secures $10 Million in Funding Committed by GEM Digital
GEM Digital has committed $10 million in funding for the MagicCraft team to use over the next 2 years to accelerate development and growth of their blockchain gaming ecosystem.
The MagicCraft team has announced that they have successfully secured an astounding $10 million in funding committed by GEM Digital to finance the studio’s blockchain gaming initiative.
The funding is designed to help provide the team with long-term financial stability as they develop their gaming ecosystem in the nascent world of blockchain gaming. Specifically, the developers have the opportunity to use the committed finances over the next 2 years, opening up the opportunity to accelerate development, expand in-game assets, and add in new technologies to improve the overall experience. According to the announcement, the new funding will help fund the creation of new gaming experiences, speed up the ecosystem’s growth, while supporting the studio to ensure it can financially make it through all markets conditions in the years ahead.
About GEM Digital
GEM Digital is a Bahamas-based digital asset investment firm. They structure, source and invest in various utility tokens found on more than 30 CEXs and DEXs worldwide. It is part of Global Emerging Markets, a $3.4 billion alternative investment group founded in 1991, who have offices in the Bahamas, Paris, and New York. Their diverse portfolio is geared towards emerging markets, with more than 570 transactions made in 72 countries.
MagicCraft is a free-to-play esports MOBA game similar to League of Legends, focused on providing competitive play-to-earn gameplay on the BNB Chain. It features a Web2 Standard Mode and Web3 Slay-to-Earn mode, the latter allowing you use to earn rewards by playing in Web3 lobbies, with the winning team receiving the game’s utility token, $MCRT. The game is available on PC and mobile devices, with the Web2 version playable through Steam.