The GameFi platform Arcade has secured $3.2 million in early investment for its mission to make web3 gaming accessible to everyone. Arcade’s notion of mass-market gaming in which anybody may earn monetary incentives attracted a number of industry giants and well-known investors.
The seed round was led by Crypto.com and also included Tenzor Capital, Alpha Crypto Capital, Highland Ventures, Flow Ventures, Panga Ventures, Hindsgaul Capital, WealthUnion, VKS, Khalili Bros, Contango, PlutusVC, and BigBrain. In addition to PARSIQ and Solana Ventures, other prominent investors included Shima Capital, KuCoin Labs, 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.
The primary goal for Arcade is to reduce the cost of getting into blockchain gaming so that it may be enjoyed by people all around the world. Native NFTs, which may be used to depict terrain or personalities, can cost hundreds or even thousands of dollars.
While there are several web3 gaming platforms, Arcade professes to stand out with its revolutionary “mission pools” that enable players to earn money without owning NFTs. Mission Pools make it possible for players who don’t have the necessary in-game NFTs to participate in Play-to-Earn activities and earn rewards nevertheless.
KuCoin Labs Head Xinly YU said:
“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.”
Solana Ventures’ Josh Finer stated:
“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.”
As a result of this first round of investment, Arcade will accelerate its efforts to make blockchain gaming and GameFi a universally accessible experience.
