Quick take:
- The funding brings the total raised to $24 million following a $12.8 million seed round announced in 2022.
- Gameplay founder and CEO Doron Kagan told The Block the extended seed round was raised at a valuation of $71 million.
- Kagan previously led the free-to-play game studio Deemedya, which created popular titles like the Trial Xtreme series, the Rope Escape series and Game of Winds.
Gameplay Galaxy, a Web3 games studio founded by free-to-play gaming vet, Doron Kagan has raised $11.17 million in an extended seed round co-led by Blockchain Capital and Merit Circle.
The extension round brings the total raised to $24 million following a $12.8 million seed round announced in 2024, according to The Block. The funding was structured as equity with token warrants, valuing the gaming studio at $71 million.
Gameplay Galaxy plans to use the fresh capital to accelerate the development of its first inaugural blockchain game Trial Xtreme Freedom.
Kagan previously led a free-to-play gaming studio Deemedya, before leaving in 2022 to build Gameplay. Deemedya is renowned for creating popular gaming titles including the Trial Xtreme series, the Rope Escape series and Game of Winds.
“After 20 years in the free-to-play industry and two successful exits, we saw blockchain as the natural evolution for the gaming industry,” Kagan told The Block. “With strong conviction, we took our successful Trial Xtreme brand with over 300 million downloads and reimagined it as a web3 ecosystem for extreme sports games.”
Trial Xtreme Freedom integrates Web3 gaming elements in the gameplay, avoiding paywalls or knowledge barriers.
“Players are introduced to web3 elements as optional features, allowing them to engage at their own pace and preference to elevate each player’s connection to the game and bring more value to their gaming experience,” he said.
Some of the Web3 features that players can use include track ownership, which allows users to host their own events and tournaments. The platform also allows players to craft, upgrade and own bikes, as well as, earn tokens by playing games.
Trial Xtreme Freedom is currently in the tech soft launch phase, with a full launch planned for the first quarter of 2025.
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