Arcade, a new generation Web3 outfit, has raised a massive $3.2 million in its latest round of seed funding, thus stepping up its efforts to make GameFi more accessible.
In addition to several big hitters within the Web3 ecosystem, the impressive fundraising drive attracted the attention of several major players. Among the industry, heavyweights are Crypto.com, KuCoin, and Solana Ventures. Additionally, a battalion of venture capital firms and Web3 companies have provided support.
“Arcade2Earn is an exciting new product that bridges the gap between DeFi and GameFi on Solana. Whether you are a spectator or an avid gamer, Arcade2Earn offers unparalleled exposure to the blockchain gaming ecosystem.” – Josh Finer – Solana Ventures.
Bringing GameFi to the mainstream
With the seed funding, the many companies involved became intrigued by Arcade’s bold vision, creating a global platform for GameFi services. This is accomplished without customers needing to own expensive gaming assets, including character NFTs and land.
In the course of implementing its grand plan, Arcade aims to bring the earning power of blockchain to users worldwide, as well as integrate Game-Fi mechanics into a wide variety of everyday applications, while minimizing the entry barrier for new participants.
The strong finance features of GameFi projects distinguish them from traditional games, but not everyone is able or has the time to play games and earn money from them. By offering these groups the opportunity to earn yields through their specific products without directly playing the games themselves, Arcade fills this gap.” – Xinly YU – Head of KuCoin Labs
Arcade intends to expand its already impressive business by taking advantage of the newly acquired funds. As a result, it will hire more staff, increase its production, and expand its reach further afield.
