Glip, Web3 Wallet and Gaming App Secure $2.5 Million in Funding

A novel Web3 protocol continues the process of integration with a global DeFi and play-to-earn community. Indian start-up Glip is building a new-gen distribution platform for on-chain applications.

Glip raises $2.5 million, Hashed Emergent led round

According to the official announcement shared by the team of Glip, a Web3 gaming wallet and application, its strategic funding round has been closed successfuly. In all, the protocol secured $2.5 million in funds from a clutch of heavy-hitting VC conglomerates.

The recent funding round was led by Hashed Emergent, a leading Web3 investing entity in Asia. Beenext and existing investor Prime Venture Partners also backed Glip in its fundraising efforts.

Besides a successful funding round, the team is actively collaborating with Axie Infinity, League of Kingdoms and KOF Arena by Netmarble in order to create a go-to platform for the distribution of their products.

Tak Lee, managing partner of Hashed Emergent, is excited by the opportunities the latest funding round unlocks for Glip, its partners, users and the entire Web3 gaming segment:

At Hashed Emergent, we believe that the gaming industry will play a key role in onboarding the next billion users to Web3. Currently there are two major challenges in Web3 gaming – lack of distribution channels and complex user onboarding. The team at Glip has built a seamless platform to solve for both. We are impressed by the team’s agility, foresight and speed of execution, and are excited to partner with them on their journey to build the “Steam” equivalent for Web3 games.

It should be noted that, in various funding rounds, the protocol raised $6 million in yield contributions from Prime Venture Partners, Better Capital, iSeed and top-tier angel investors.

Leader of crucial region for DeFi and GameFi

Glip CEO and its founder Parth Choudhary are certain that integration of Web3 protocols into the e-sports segment and video games will be among the hottest trends in crypto for the near future:

With $10B already deployed, Web3 games are increasing rapidly and getting better by the day, but they are all struggling with user acquisition on Web2 platforms. Our mission is to build the world’s largest Web3 gamer platform.

Besides the funding round, Glip app smashed through a major adoption miestone as its sign-up count exceeded 7 million registrations. One million users joined the Glip ecosystem in just three months.

Since its launch in 2020, the protocol managed to build a passionate and vibrant community in India, SEA and Brazil. For India, Glip is the most popular Web3 gaming app ever.