Gameplay Galaxy Secures $24 Million in Seed Funding Round to Build World’s First Web3 Competitive Gaming Ecosystem - Decrypt
08/27/2024 18:04
San Franciso, California, 27th August 2024, GamingWire
San Franciso, California, August 27th, 2024, GamingWire
Gameplay Galaxy, creators of the blockbuster Trial Xtreme franchise, has announced the successful extension of their recent seed funding round. The extension offers an additional $11 million in capital bringing their total funded amount to $24 million.
This investment, led by Blockchain Capital and Merit Circle can underscore the growing confidence in Gameplay Galaxy’s innovative approach to Web3 gaming and its potential to disrupt the market. Trial Xtreme Freedom is positioned to lead the transition from Free-to-Play (F2P) to Web3 broad adoption by introducing new player centric digital ownership utilization models.
One specific feature that is expected to make waves is track ownership, empowering track owners to hold their own tournaments, and special events. Players will also be able to craft, upgrade, own their bikes and earn tokens through their in-game experiences. These Web3 features will bring a new level of player ownership set on a foundation of best-in-class gameplay.
The funds will be strategically utilized to accelerate product development, expand the world-class team, and enhance go-to-market strategies.
Doron Kagan, Founder and CEO of Gameplay Galaxy stated, “We believe that Web3 represents the natural evolution of the Free-to-Play model, paving the way for the most significant transition in gaming history. This new paradigm not only enhances player engagement but also opens up unprecedented opportunities for the emergence of new gaming giants. We’re excited to be at the forefront of this revolution, driving innovation and creating value for our players and stakeholders.”
“Our players are and will always be our focus. Trial Xtreme Freedom is ground zero where our decades of successful game development and Web3 innovation collide,” said Maya Gurevich, Founder and COO of Gameplay Galaxy. “We are here to revolutionize the entire gaming industry by empowering players to have meaningful ownership in a frictionless gaming experience, all while having fun setting new track records.”
“Through our investment career, spanning seed VC to hedge fund public equities, we have invested into the video game industry and realize that it’s incredibly challenging, requiring the right blend of talent, technology, and leadership,” Says Bart Stephens, GM at Blockchain Capital. “We have witnessed numerous VCs pour hundreds of millions into web3 games, and we have not been interested —until we met the Trial Xtreme team. We believe that Doron, Maya, and their dedicated team, with over 300 million downloads under their belt and a deep understanding of blockchain, have the expertise to create the first web3 game to achieve widespread mainstream success.”
About Gameplay Galaxy
Gameplay Galaxy is the game development studio behind the Trial Xtreme Series, a leader in the mobile games sport and racing category. Their mission is to deliver the world’s first Web3-powered, competitive extreme sports ecosystem. With a successful track record and commitment to embrace emerging technologies, Gameplay Galaxy is pushing the boundaries of what is possible and delivering unforgettable experiences to players worldwide.
Users can join the Gameplay Galaxy and Trial Xtreme Freedom community on X and follow along with recent updates by visiting the Gameplay Galaxy site.
Contact
Jamie Kingsley
Gameplay Galaxy
[email protected]
Disclaimer: Press release sponsored by our commercial partners.
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