Play-to-Earn bends, but does not break – As the world shakes, the market bleeds and the crowds roar, the Play-to-Earn, he traces his little route quietly. The studio and incubator of decentralized gaming applications, Vulcan Forgedhas just raised no less than $8 million during a fundraising Series A, led by Skybridge Capital. So who said Play-to-Earn was dead and buried already?
A Play-to-Earn studio that concludes a colossal fundraiser
Vulcan Forged is an NFT Play-to-Earn gaming platform that has won over a wide audience with its multi-faceted nature. The company is primarily a blockchain-focused video game studio. However, it draws its strength from its service offering.
Simply put, Vulcan Forged is a play-to-earn project incubator, an NFT creation and trading platform, a staking platform and a decentralized exchange. So yes ! Said like this, the project looks good ambitious. It is also for this reason that Vulcan Forged sought to raise funds. As related by communicated release, this is an intention widely welcomed by investors. In fact, these are $8 million which were collected by Skybridge Capital, responsible for carrying out the operations.
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Giant ambitions for Vulcan Forged
“Vulcan Forged has grown rapidly organically over the past two years, growing from 2 employees to over 130 and attracting over 200,000 users across 15 games and dApps with no outside capital. »
Jamie Thomson, Founder and CEO of Vulcan Forged
However, it is not only promises that the web 3 box makes part of. In fact, its current figures testify to a certain credibility. A credibility that will have played its role in this fundraising. Indeed, the young structure brought together no less than 200,000 users. The volumes on its dApps are around $120 million.
In addition to these different value propositions, Vulcan Forged intends to provide its own game engine for creating metaverses. It is moreover on this asset that the confidence of the team is based… So much so that the ambition is to compete with a video game legend, Minecraft. Even if the comparison may make you smile, some don’t see it that way. They rely on Vulcan Forged to be a staple.
Skybridge Capital, the $800 million investment management firm, also hinted in its statement that the investments would not stop there. The $8 million raised was just the tip of the iceberg, and that’s $33 million who are expected in the future.
Still according to the press release, the investment of Skybridge (which, let us remember, is 30% owned by FTX) in Vulcan Forged is part of a calculated optic to seize the subject of the metaverse and play-to-earn. In addition to setting foot in the dish, Skybridge even intends, thanks to these funds, to supercharge the development of their game engine and make it their spearhead.
Contrary to what one might think, play-to-earn always attracts investment funds. For SkyBridge, Yuga Labsa16z and many more, the metavers and the play-to-earn are winning bets for the future. However, the sector still remains a species of caterpillar whose aesthetics and motricity are painful to see. Many will see, among the various projects, cocoons ready to give birth to monarchs. However, it’s a safe bet that a good number of moths will come out.
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Play-to-Earn: an additional $8 million raised – NFT video games still on top
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