MetaverseGo Secures $4.2 Million in Funding to Ease Access to Web3 Games
Want to try out P2E games but have no idea where or how to start? MetaverseGo might just have the solution for you.
MetaverseGo raised $4.2 million in a seed funding round
On August 8th, mobile gaming platform MetaverseGo announced the completion of a $4.2 million seed funding round led by Galaxy Interactive.
Other notable investors who took part in the round include Delphi Digital, Dragonfly Capital, Mechanism Capital, Infinity Ventures Crypto, Shima Capital, Com2uS, Akatsuki, Ascensive Assets, BitScale Capital, Yield Guild Games (YGG), BreederDAO, Mentha Partners, and Emfarsis.
With that, MetaverseGo now has an initial valuation of $40 million. The company will use these funds to develop its product, hire more talents, and secure more partnerships with telecom providers.
What is MetaverseGo?
To start with, MetaverseGo is an upcoming Web3 app that will allow users to access P2E games, guilds, NFTs, and decentralized apps - just by using a mobile phone number. Given that, there's no need for players to set up their own crypto wallets, buy crypto/ in-game assets, or look for a guild scholarship themselves.
Upon sign-up, MetaverseGo will provide users with in-app wallets to start playing games such as Axie Infinity and Cyball. In fact, they can also play with NFT assets owned by gaming guilds like YGG. Isn't that cool? After paying off a percentage of in-game earnings to the guilds, players can use the remaining proceeds in the form of MetaverseGo credits to pay for data or utility bills.
Getting started on P2E games will never be easier
MetaverseGo co-founders Ash Mandhyan, Jake San Diego, and JC Velasquez believe it is crucial to simplify the onboarding process for blockchain games. Mandhyan, who previously held positions at Facebook and Bytedance, compared the need to get Web3 onboarding right to learning how to drive a car.
"At first, people don't want to understand how the engine works. They want to first understand how to steer, how to shift gears, and how to brake. Then later on, you'll have a conversation about engine size and combustion and transmission. But if you go and start talking about engine size at the very first conversation, they'll back out. It's too much information too soon," said Mandhyan in an interview with The Block.
One thing's for sure, MetaverseGo will launch into open beta next month. Until then, it remains to be seen how useful the app is in providing access to top blockchain games.