Gaming Platform On Terra’s Blockchain Raised $25M From FTX

Web3 Gaming platform on Terra’s Blockchain C2X raised $25 million from FTX Ventures, Animoca Brands, and Jump Crypto according to the announcement that we have today in our latest crypto news.

The round raised through a private token sale valued the platform at $500 million. C2X said it also has plans to launch a publicly-traded token by the same name, but no date for the release has been set yet. The gaming platform will include token economics, NFT marketplaces, and a wallet and will be built on the Terra blockchain as well as be advised by Hashed, a long-time investor in the Web3 gaming industry and a huge player in the Terra ecosystem. The topic became instantly popular across plenty of new online casinos Canada, and our blog too.

C2X said it will be guided heavily and developed by South Korean game publisher Com2us which is an advisee of Hashed. The managing partner at Hashed Baek Kim said:

“Right now sentiment has completely shifted since the growth of Axie, the NFT boom and major talent inflow to Web 3. Com2us is pivoting to be a Web 3-first gaming company.”

Hashed was a participant in C2X’s private token sale and managed to raise $200 million in funds of its own to support Web3 gaming and the ecosystem in December. The investment is the latest affirmation of Jump Crypto, FTX, and Animoca Brands’ long-term confidence in the growth of the Web3 gaming industry. The trio’s version for the space included hundreds of millions of dollars of investment in the past year via various gaming funds. The director of MetaMagnet Paul Kim said:

“Blockchain technology provides a transparent and secure platform for users to buy, sell and store assets, and applying this concept to video games was the logical next step. C2X puts the power in the hands of the users and builders, not in a single centralized entity, enabling the full community to direct the platform’s operations and fully invest in its success.
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As recently reported, In addition, the data source reported the data showing that Terra surpassed Ethereum to become the second most staked asset which now has more than $28 billion in total value locked. According to the data report, the Terra crypto project has over 226,325 stakers and accounted for $29.5 billion worth of LUNA tokens that were staked which is how the token was pushed to second place and surpassed Ethereum.