Play-to-Earn bends, but doesn’t break – While the world trembles, the market bleeds and the crowd roars, the Play to earn, he calmly plans his small route. The studio and incubator of decentralized gaming applications, Vulcan forgedjust picked up no less than $8 million during a fundraising Series A, led by Skybridge Capital. So who said Play-to-Earn was already dead and buried?
A Play-to-Earn studio closing a colossal fundraiser
Vulcan Forged is an NFT Play-to-Earn gaming platform that has won over a wide audience with its versatile nature. The company is primarily a blockchain-focused video game studio. However, it draws its strength from its range of services.
Simply put, Vulcan Forged is an incubator for projects to earn, an NFT creation and trading platform, a staking platform, and a decentralized exchange. So yes ! Said so, the project looks good ambitious. It is also for this reason that Vulcan Forged tried to raise money. As the press release states, this is a move widely welcomed by investors. In fact these are $8 million which were collected by Skybridge Capital, responsible for running the operations.
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Huge ambitions for Vulcan Forged
“Vulcan Forged has grown rapidly organically over the past two years, from 2 employees to over 130, attracting more than 200,000 users across 15 games and dApps with no external capital. »
Jamie Thomson, founder and CEO of Vulcan Forged
However, it is not only promises that the web 3 box is part of, the current figures even testify to a certain credibility. A credibility that will have played a role in this fundraising. After all, the young structure brought together no less than 200,000 users. The volumes on his dApps are round $120 million.
In addition to these various value propositions, Vulcan Forged plans to provide its own game engine for creating metaverses. Moreover, it is on this asset that the confidence of the team is based… So much so that the ambition is to to compete with a legend of video games, Minecraft. Even if the comparison might make you smile, some don’t see it that way. They trust Vulcan Forged to be a staple.
Skybridge Capital, the $800 million investment manager, also hinted in its statement that the investment would not stop there. The $8 million raised was just the tip of the iceberg, and that is $33 million who are expected? in the future.
Still according to the press release, Skybridge’s investment (which, let’s not forget, 30% owned by FTX) in Vulcan Forged is part of a calculated optic to grab the subject of the metaverse and play to earn. Besides the fact that Skybridge has set foot ashore, thanks to these funds, Skybridge even wants to boost the development of their game engine and make it their spearhead.
Contrary to what one might think, play-to-earn always attracts mutual funds. For SkyBridge, Yuga Labsa16z and many more, the metaverse and the play to earn to be winning bets for the future. However, the sector still remains a caterpillar species whose aesthetics and locomotion are painful to watch. Many will see among the various projects cocoons ready to give birth to monarchs. However, it is a safe bet that a large number of moths will hatch.
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