Solana-based gaming platform Arcade2Earn raises $3.2 million: Exclusive
Other investors included Solana Ventures, Shima Capital, KuCoin Labs and GSR, Arcade announced. The funding was realized via a simple agreement for future tokens (SAFT), Arcade co-founder Jaleel Menifee told The Block. The company's utility token is known as arcade.
Funding across web3 investments has tumbled this year, but gaming projects are still popular with the most venture funding going to NFTs and gaming in the third quarter, according to The Block Research. Arcade claims to differ from the plethora of web3 gaming platforms with its unique concept called "mission pools" that allow gamers to make money without owning NFTs. The public launch of the platform and the token will follow.
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