Source: news.google.com
Web3 game discovery & wallet, Glip has raised an additional $2.5 million in new funding from a variety of investors, bringing the total investment it has received so far to $6 million.
The latest round of growth for the India-based startup was led by Hashed Emergent. It was also funded by Beenext and involved existing backer Prime Venture Partners. As the strategic fundraising wraps up, backing from established and well-rounded crypto VCs is a huge boost for the platform and the sphere as a whole.
In a statement, Glip said it will use the newly raised funds to accelerate growth and expand operations, the 10-member team and the suite of products with the goal of bringing millions of gamers to web3. The team’s goal is to change the perspective that many have towards Web3 and show its value while presenting an application platform for gamers.
Glip, which has a live platform with more than 2 million active users and 7 million downloads, currently enjoys a strong presence in India, the Philippines, Indonesia, Brazil, Eastern Europe and has started to enter the US market. USA
Founded in 2020 by Parth Choudhary and Ishan Shrivastava, the startup is building a dedicated distribution platform that features tools for content creation: recording, streaming, and montage editing.
One of the distinctive features of Glip is that it will not be limited to just being a gaming platform. The project has ambitious goals, which include becoming a one-stop-shop for all Web3 gaming needs. Specifically, the platform continues to sign up top web3 gaming projects like Axie Infinity, League of Kingdoms, Netmarble’s KOF Arena to drive user acquisition and engagement.
Glip also offers a suite of creator economy tools for players to post and monetize across existing social media and content platforms.
Commenting on the news, Tak Lee, Managing Partner of Hashed Emergent, states: “At Hashed Emergent, we believe the gaming industry will play a key role in bringing the next billion users to Web3. Currently, there are two main challenges in Web3 games: lack of distribution channels and complex user onboarding. The Glip team has created a perfect platform to solve both. We are impressed by the team’s agility, foresight and speed of execution, and are excited to partner with them on their journey to build the equivalent of “Steam” for Web3 gaming.”
Glip CEO and Founder Parth Choudhary adds: “With $10 billion already in place, web3 games are rising rapidly and getting better by the day, but everyone is struggling with user acquisition on web2 platforms. Our mission is to build the world’s largest web3 platform for gamers.”
Glip COO and Founder Ishan Shrivastava comments: “We have a portfolio of more than 100 games around the world, including all major publishers. Everyone is excited about web3 adoption in emerging markets and will soon get a self-service dashboard to run campaigns, get user feedback and analytics. Glip will soon surpass 100,000 monthly active web3 players.”
Despite the difficult year for the cryptocurrency market, the popularity of blockchain-based games has only grown. In particular, there is an immense opportunity for esports to become a major contributor to India’s digital economy in the future. A testament to the fact is that Indian startups operating in the metaverse, web3 and NFT segments have seen record funding and acquisitions in the past year.
Meanwhile, the gaming sector remains a beacon of light for the future of dapps amid the pessimism of a prolonged crypto winter. It now accounts for 51% of total blockchain usage. This is not a surprise, as we have seen multiple blockchain games with truly immersive game mechanics that take entertainment to the next level.
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