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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Gameplay Galaxy Announces Completion of $12.8 Million Seed Round to Build First-of-its Kind Web3 Competitive Gaming Ecosystem

September 7, 2022 GMT

SAN FRANCISCO--(BUSINESS WIRE)--Sep 7, 2022--

Gameplay Galaxy, the world’s first Web3-powered, decentralized competitive gaming ecosystem, today announced the close of its $12.8 million seed round. The round was led by Blockchain Capital, with participation from Merit Circle, Com2uS, Mysten Labs, Solana Ventures, Yield Guild Games, and Hustle Fund.

Developed by the creators of leading blockbuster Web2 gaming series Trial Xtreme, which reached over 250 million downloads across a variety of bike racing games, Gameplay Galaxy launches its highly engaging, decentralized Web3 gaming ecosystem starting with Trial Xtreme and adding other extreme sport games in the future. Each game will offer players the opportunity to own vehicles, racetracks, characters, workshops, and other items as NFTs that they can buy and sell on a decentralized marketplace. Players can earn active income by competing in tournaments and winning races, as well as hosting tournaments and events that others can compete on. Additionally, players will be able to earn tokens by winning games and can redeem earned tokens to open a secure wallet that can store future tokens and NFTs.

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Gameplay Galaxy’s seed funding will enable the company to build new and exciting games that will unite the most innovative Web3 capabilities, design and create seamless experiences, onboard Web2 players to this first-of-its-kind Web3 gaming ecosystem, develop its wallet offering, and expand its world-class development team.

“The advent of Web3 has resulted in an open field of creative opportunities for game creators. Gameplay Galaxy has designed a new ecosystem that harnesses the full power of Web3 to provide a much more exciting and interactive gaming experience for our players,” said Doron Kagan, Founder and Chief Executive Officer of Gameplay Galaxy. “Our players are always our focus and we are also keenly aware of the need to advance the gaming industry’s business model and are proud of the role this launch will play in that evolution. Our Web3 ecosystem enables players anywhere in the world to play an active role in how the game is played, as well as to group into guilds and take part in game ownership and enjoy the financial upside of the game’s success. This coupling of rich gameplay experience with profitability potential – all on a Web3 platform – is a first-of-its-kind model and an important next step for the gaming industry overall.”

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“The Web3 space has delivered innovations we couldn’t have possibly predicted even five years ago and now, we are thrilled to bring forth the newest innovation: decentralized competitive games that is owned and operated by the players themselves,” said Maya Gurevich, Founder and Chief Operating Officer of Gameplay Galaxy. “We believe the possibilities for Gameplay Galaxy are limitless, and we look forward to working with our players to scale our new gaming social experience and become the go-to source for extreme sports in the metaverse.”

“The Gameplay Galaxy team has demonstrated an enviable track record with Trial Xtreme, and we are excited to support this team as they endeavor to bring engaging content to Web3 gaming,” said Bart Stephens, Founder and Managing Partner at Blockchain Capital. “The team understands the massive opportunity ahead, and they know what it takes to scale successful titles.”

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“Gameplay Galaxy is a great example of a team that has delivered a successful game in the Web2 industry and is now ready to take their experience to Web3 gaming,” said Marco van den Heuvel, Chief Executive Officer of Merit Circle. “The Web3 industry needs more fun-first games that have what it takes to please a large crowd, while showing the benefits that Web3 offers. Therefore, we’re incredibly excited to support Gameplay Galaxy throughout their journey to achieve that goal.”

“The Gameplay Galaxy team is creative, forward-thinking, and has an established track record of developing exciting mobile games for millions of players,” said Evan Cheng, Co-Founder and Chief Executive Officer at Mysten Labs. “We are excited to support them through this fundraise as they create fun, entertaining experiences that propel Web3 gaming into the future.”

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“Galaxy’s track record speaks for itself,” added Michael Lee, Director of Corporate Development at Com2uS. “The Gameplay Galaxy team is spearheading an innovative game design that mixes in Web3 elements that I think will truly bridge Web2 and Web3 users by prioritizing what really matters: fun gameplay.”

Gameplay Galaxy launches with a team of over thirty professionals with unique experience in developing and pioneering innovative gaming products. The company is currently hiring team players who are passionate about building out the future of gaming and Web3. To learn more, visit gameplaygalaxy.com.

About Gameplay Galaxy

Gameplay Galaxy is the world’s first Web3-powered, decentralized competitive gaming ecosystem. Developed by the creators of leading blockbuster Web2 gaming series Trial Xtreme, which reached over 250 million downloads across a variety of bike racing games, Gameplay Galaxy players can own, buy, and sell vehicles, racetracks, characters, workshops, and other items as NFTs in a seamless, straightforward manner. Join the Gameplay Galaxy community on Discord and learn more at https://gameplaygalaxy.com.

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KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: ELECTRONIC GAMES TECHNOLOGY NFT ENTERTAINMENT ONLINE PROFESSIONAL SERVICES METAVERSE INTERNET WEB3

SOURCE: Gameplay Galaxy

Copyright Business Wire 2022.

PUB: 09/07/2022 09:00 AM/DISC: 09/07/2022 09:02 AM

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