- A Vietnam-based blockchain firm has secured millions in additional funding to boost its efforts to create an infrastructure for GameFi.
- This funding round is focused on Ancient8 efforts in developing its software products and further growing its community.
- The firm has earlier collaborated with popular names like Axie Infinity, Phantom Galaxies, etc.
Ancient8, a Vietnam-based blockchain firm, has recently secured millions in additional funding to enhance its efforts in creating infrastructure for the GameFi space in Web3.
The company highlighted through a recent statement that it has secured $6 million in a funding round led by interactive entertainment venture capital firm Makers Fund and C² Ventures.
Some others participating from current and new investors were Pantera Capital, IOSG Ventures, 6th Man Ventures, Folius Ventures, Ventures, Morningstar, Th3ia Capital, Play Ventures, and Sky9 Capital.
According to Ancient8, this funding round is focused on the entity’s efforts in developing its software products and further growing its community and gaming guild. The statement also signified that the firm has an active user base of approximately 200,000 members.
GameFi is still a new term in the world of Web3 and is designed to enable the players with avenues of earning while they play (P2E), facilitating economic incentives comprising tokens and Non-Fungible Tokens (NFTs).
ALSO READ – A Reward System Is On The Way In Shib Metaverse For Shiba Inu Holders
Furthermore, the firm highlighted that it is attempting to reach success and that it has set up the largest blockchain gaming guild in the country. And that it has collaborated with over twenty-five top GameFi projects. The collaborations include Axie Infinity and Phantom Galaxies, an open-world space simulation game published by Animoca Brands.
Ancient8 is further expected to roll out a GameFi identity product as well as a pair of tokens particularly developed to engage users through a go-to-market strategy for Web3 gaming. The firm also highlighted that it would utilize the products to link up with other leading blockchain games.
Web3 or as we can say, the internet, is under development and is attracting massive organizations given its exhilarating features which eliminate the persisting issues in the existing internet. Web3 will also serve as the underpinning layer for play-to-earn games (P2E), which are only expected to surge in popularity in the future.
Source: https://www.thecoinrepublic.com/2022/06/10/vietnam-based-ancient8-raises-6m-focused-on-infrastructure-software-for-gamefi/