Mobile gaming platform MetaverseGo announced that it has completed a $4.2 million seed funding round. MetaverseGo provides gamers easy access to play-and-earn games, guild participation, NFT collection, and other decentralized applications. The funding round was led by Galaxy Digital’s Galaxy Interactive unit with participation from Delphi Digital, Dragonfly Capital, and Mechanism Capital, among others.
The platform, which will be launched during the next month, will allow users to sign up with just their phone number. It will offer access to games such as Axie Infinity and CyBall.
What will the company do with the money?
MetaverseGo is planning to use the money raised for software development, securing collaboration with telecommunications companies, and hiring.
In addition, the company will use the funds to ease onboarding for blockchain-based games. Onboarding is a part of the challenge for blockchain-based games. It involves steps like obtaining a wallet, purchasing crypto, and purchasing gaming assets—which can be difficult for new players.
What does this mean for the future of blockchain gaming?
According to Dapp Radar, gaming dApps accounted for 52% of all blockchain activity in the second quarter of 2022. However, compared to the hundreds of millions of people who play mobile games every day, only about one million play blockchain-based games. So, with platforms like MetaverseGo, blockchain games are set to change the course of gaming.