Next generation Web3 outfit, Arcade, has raised a massive $3.2 million in its latest round of seed funding, therefore stepping up a gear in its bid to bring the might of GameFi to a mainstream audience.
The impressive fundraising drive attracted the attention of several big hitters within the Web3 ecosystem. With industry heavyweight, Crypto.com leading the way, closely followed by KuCoin and Solana Ventures. In addition to support from a battalion’s worth of venture capital firms and Web3 companies.
“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.” – Josh Finer – Solana Ventures
Bringing GameFi to a Mainstream Audience
Through the seed funding, the many companies involved became enamoured with Arcade’s bold vision, putting together a far-reaching platform that will provide GameFi services to a global audience. All without the need for customers to own expensive gaming assets such as character NFTs and LAND.
As a result of its grand plan, Arcade aims to bring the earning power of the blockchain to users worldwide and enable Game-Fi mechanics into a wide range of everyday applications. It will also keep the entry barrier of those wishing to participate as low as possible.
“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.”– Xinly YU – Head of KuCoin Labs
Going forward, Arcade will use the newly acquired funds to grow its already impressive business. As a result, seeing it expand its reach farther afield, hire more staff, and dial up its output. So, as crypto continues to take a breather, the journey of GameFi has only just begun.
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