Arcade2Earn raised $3.2 million in a seed funding round led by Crypto.com Capital.

The play-to-earn (P2E) gaming platform, built on the Solana blockchain, also announced that other investors include Solana Ventures, Shima Capital, KuCoin Labs, and GSR.

According to Arcade co-founder Jaleel Menifee, the funding was done through a simple agreement for future tokens (SAFT). The company’s utility token is also known by the same name, arcade.

According to research, funding for web3 investments has decreased this year; however, gaming projects have remained valuable or popular, with the majority of venture funding going to NFTs and games in Q3.

Arcade claims a unique selling point, saying it has a unique concept called “mission pools” that allow players to earn money without owning NFTs.

According to the company, users who have obtained company approval can be operators of a quest pool and gain access to games using NFTs owned by Arcade’s treasury or loaned to Arcade. Later, they can be used to generate rewards.

Additionally, quest pool contributors can become arcade token holders who can decide which operators and in-game activities they want to support by depositing their xarcade tokens into a quest pool.

“Not everyone is good at gaming or has time to play and win,” said Xinlu Yu, head of KuCoin Labs, in a statement. “This is where Arcade fills the gap by allowing those groups of people to enjoy getting returns through their specific products without directly playing the games.”

Arcade currently has 20 people working for the company, including its six co-founders. Menifee has also said that the Arcade platform is currently in development and its demo is scheduled to launch before the end of this year.

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