NFT Gaming Platform Fractal Raises $35m, Co-Led by Paradigm Capital
Godfrey Benjamin Apr 04, 2022 04:50
Fractal, a marketplace for gamers to discover, buy and sell digital collectibles and gaming NFT, has announced the successful raise of a seed round of $35 million from prominent investors.
Fractal, a marketplace for gamers to discover, buy and sell digital collectables and gaming Non-Fungible Tokens (NFT), has announced the successful raise of a seed round of $35 million from prominent investors.
As announced by the platform through a Blog Post, the seed round was co-led by Paradigm and Multicoin Capital, with the participation of multiple investors, including Andreessen Horowitz (a16z), Solana Labs, Animoca Brands, Coinbase Ventures, Play Ventures, Position Ventures, Zynga founder Mark Pincus, Crossover, Shrug Capital and TerraForm Labs CEO Do Kwon. Goat Capital previously led Fractal’s seed round in January.
Fractal’s emergence in the digital currency ecosystem was one that was inspired by the growing utilities of NFTs which are projected to extend into the gaming ecosystem.
According to Justin Kan, one of the brains behind the project, also credited as one of the main developers behind Twitch, an American video live streaming service that focuses on video games and esports streaming. The launch of Fractal is solely hinged on helping game developers get the best out of their ambitions to bring innovative solutions to the blockchain gaming world.
Fractal Milestones Thus Far
Since its inception, Fractal has floated its Launchpad to help games release their NFT collections to the public. Fractal is administering this launchpad with the sole mission of partnering only with blockchain game developers who have been vetted to complete their roadmaps and fulfil their promises to their users and investors.
As a result, Fractal has only accepted 5% of all the applications it has received to date, and its new partners include House of Sparta, Tiny Colony, Yaku Corp, Cinder, Nekoverse, Metawana, MetaOps, and Psyker.
With more projects set to make their debut on the Fractal Launchpad, Justin affirmed that the accrued seed round will be used to build out its engineering team and in making the best product possible for gaming companies who want to build around blockchain and turn their games into truly open economies.
The funding generally trails other notable funding that NFTs, gaming, and metaverse protocols have received in recent times, with one of the latest being the $23 million pulled by CoWDAO as reported earlier by Blockchain.News.
Image source: Blockchain.News