TLDR:
- Gameplay Galaxy raised $24M seed round for Web3 gaming platform backed by Blockchain Capital and Merit Circle.
- The funds will support the development of the studio’s flagship title, Trial Xtreme, which features blockchain-based ownership tracking of in-game assets.
Gameplay Galaxy, a Web3 gaming studio, has secured an additional $11 million in an extended seed round, bringing the total raised in the round to $24 million. The funding, backed by Blockchain Capital and Merit Circle, will support the development of the studio’s flagship title, Trial Xtreme. The mobile game franchise, with over 300 million downloads, features motocross-style racing and sports. One of the popular games in the series, Trial Xtreme Freedom, will introduce blockchain-based ownership tracking of in-game assets.
Investments in Web3 gaming have surged to $1.1 billion in the second quarter of 2024, making it the best quarter since 2022. Doron Kagan, founder and CEO of Gameplay Galaxy, believes that Web3 represents the natural evolution of the Free-to-Play model, paving the way for a significant transition in gaming history. Leading games in the Web3 landscape include Pixels and Hamster Kombat, with the latter reaching 239 million users in just 81 days since its launch.
Despite the increase in venture capital interest in Web3 gaming, Hamster Kombat’s developers have declined external funding to focus on the community’s needs. The Web3 gaming sector continues to drive decentralized app activity and attract millions of active wallets daily.
