Gameplay Galaxy Raises $12.8 Million For Competitive Gaming Platform Web3

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Gameplay Galaxy announced that it has raised $12.8 million in funding for its Web3 decentralized competitive gaming ecosystem. The creators of Trials Xtreme are also preparing to launch a new entry in the series as the first game on the platform.

Blockchain Capital led the round, with participation from Merit Circle, Com2uS, Mysten Labs, Solana Ventures, Yield Guild Games, and Hustle Fund. The company plans to use the funding to develop more features for the platform, as well as new games. It also intends to offer its portfolio to users, as well as facilitate the integration of Web2 users.

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Gameplay Galaxy users will be able to earn money by participating in Trial Xtreme races and competitions, and will also be able to earn their own in-game assets, including NFTs. The creators also say that users who don’t want to engage with these mechanics can enjoy racing on their own.

Doron Kagan, CEO of Gameplay Galaxy, told GamesBeat in an interview, “Web3 is a big step forward for technology. It’s basically reshaping how users (or players, in our case) have the opportunity to participate in the ownership of the game or any other company, and actually participate in the revenue or profits or whatever that the product generates… The whole community of gamers provided a place where people could meet and interact, but the control of everything was in one place. The gaming company owned all the information and owned everything – the data, the revenue, everything. In Web3, everything has been completely decentralized. Even the decision making regarding the game is done with the users.

Maya Gurevich, Gameplay Galaxy COO, said in a statement: “The Web3 space has brought innovations that we could not have foreseen even five years ago and now we are excited to introduce the latest innovation: decentralized competitive games that are owned and operated by the players themselves. We believe the possibilities of Gameplay Galaxy are limitless and we look forward to working with our players to evolve our new social gaming experience and become the go-to source for extreme sports in the metaverse.

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