Web3 gaming studio Gameplay Galaxy has successfully raised an additional $11 million in an extended seed round, bringing the total funding to $24 million. This significant investment underscores the growing interest in blockchain-based gaming and the potential for Web3 to revolutionize the industry.
Fueling the Future of Web3 Gaming
The newly acquired funds will be utilized to further develop Gameplay Galaxy’s flagship title, Trial Xtreme, a popular mobile game franchise with over 300 million downloads. The studio plans to introduce blockchain-based ownership tracking of in-game assets, allowing players to craft, upgrade, and own their bikes while earning tokens through their gameplay experiences.
A Resurgence in Web3 Gaming
Venture capital firms are increasingly bullish on the Web3 gaming sector, which experienced a resurgence in the second quarter of 2024. Investments in this space soared to $1.1 billion, marking the highest quarterly total since 2022. This trend is indicative of a growing belief that Web3 represents the natural evolution of the free-to-play model and offers immense potential for innovation and growth.
Leading the Web3 Gaming Landscape
Gameplay Galaxy joins a growing list of successful Web3 gaming projects. Titles like Pixels, with 48 million unique wallets in the second quarter, and Hamster Kombat, which garnered 239 million users in just 81 days, have demonstrated the immense popularity and potential of blockchain-based gaming.
A Promising Future for Web3 Gaming
The $24 million investment in Gameplay Galaxy signals a bright future for Web3 gaming. As the industry continues to evolve, we can expect to see more innovative and engaging blockchain-based games that offer players new and exciting experiences.
Credit: Cointelegraph
