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Gaming Platform OP Games Raises $8.6m To Bridge Game Developers To Web 3.0 By DailyCoin


Gaming Platform OP Games Raises $8.6m To Bridge Game Developers To Web 3.0

$8.6M in seed funding was provided to OP Games by Web 3.0 startup.

Leading cryptocurrency venture capital firms, such as Republic Crypto and Ascensive Assets along with Morningstar Ventures and Mechanism Capital participated in this round. Polygon Studios was also represented by Polygon Studios. Mentha Partners and OKex Blockdream Ventures were also involved, as was SevenX Ventures and GFS Ventures.

“We welcome this hearty endorsement of the work we have done to power up the gaming landscape using Web 3.0’s superpowers: open-source and community ownership,” said the startup’s CEO and co-founder Chase Freo.

“The $150 billion gaming industry is evolving at an astonishing rate. By giving developers the tools and guidance they need, and by giving players the chance to co-create their favorite projects, we are opening up new revenue channels for the sector’s talented creators.”

OP Games is creating a platform that combines NFTs and decentralized autonomous groups (DAOs) to work with developers on games they can create together with their communities.

Play-and-Earn will be the platform’s player-facing gateway. This model is based on the gamefi movement’s pillar. The company’s player-facing gateway is OP Arcade, where communities discover HTML5 games, compete for prizes in tournaments, and participate in a progressive crypto-economy.OP Arcade is built on the developer-friendly NEAR Protocol.

OP Games supports the creation up to 500 games before the end 2022. This will foster a vibrant network of players, creators and investors.

On October 12, the venture was founded by gaming industry professionals. These Avatars are part of an initial series for the OP Arcade platform. They are built using open-source tools from OP Games and will be a pillar of the upcoming OP Games metaverse.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.