Hamster

DappRadar

Merit Circle

Galaxy

Web3 studio Gameplay Galaxy has secured an additional $11 million in an extended seed round, as venture capital funding for blockchain-based gaming is expected to return in 2024.&nbsp;
Blockchain Capital and Merit Circle backed the additional funding, bringing the total raised in the round to $24 million. According to an Aug. 27 announcement, the funds will support the development of the studio’s flagship title, Trial Xtreme.&nbsp;
Gameplay Galaxy claims to have over 300 million downloads tied to the Trial Xtreme franchise, a mobile game featuring motocross-style racing and sports. One of the series’ popular games, Trial Xtreme Freedom, is set to introduce blockchain-based ownership tracking of in-game assets in tournaments.&nbsp;
“Players will also be able to craft, upgrade, own their bikes and earn tokens through their in-game experiences,” said the company.&nbsp;
Venture capitalists are showing renewed interest in Web3 gaming following a long bear market. According to DappRadar, investments in Web3 gaming surged to $1.1 billion in the second quarter of 2024, making it the best quarter since 2022. Blockchain gaming continued to lead the Web3 sector, driving 28% of all decentralized app activity and attracting 2.8 million active wallets daily.&nbsp; 
<figure><img alt="Gameplay Galaxy raises $24M seed round for Web3 gaming platform" name="" src="https://s3.cointelegraph.com/uploads/2024-08/019190a7-597a-76f5-aa4a-3ab47652c022">
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 Source: DappRadar
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“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,” Doron Kagan, founder and CEO of Gameplay Galaxy, said in a statement. Games leading the Web3 landscape include Pixels, with 48 million unique wallets in the second quarter, as per DappRadar. Another gaming title gathering millions of users is the Telegram-based clicker Hamster Kombat. The game reached 239 million users in just 81 days since its launch, drawing venture capitalists’ interest in the product. Hamster Kombat’s developers, however, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/hamster-kombat-turns-down-venture-capital-offers" rel="noopener noreferrer nofollow" target="_blank" text="null">have declined external funding</a> to focus on the community’s needs. Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/ai-more-power-hungry-bitcoin-profits-pose-risks-bitcoin-miners/" rel="noopener noreferrer nofollow" target="null" text="null">AI may already use more power than Bitcoin — and it threatens Bitcoin mining</a>

Gameplay Galaxy raises $24M seed round for Web3 gaming platform

Cointelegraph

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