Arcade2Earn Raises $4.8 Million in Funding Round
Arcade2Earn, a play-to-earn gaming platform, has secured $4.8 million in a funding round led by Crypto.com Capital. Other investors include Solana Ventures, Shima Capital, KuCoin Labs, and GSR. The funding was raised through a simple agreement for future tokens over the course of about a year and concluded at the end of 2023. Arcade2Earn plans to conduct a public token sale for its $ARC token on the Fjord Foundry platform starting on Feb. 27.
Arcade2Earn Shifts Focus from Solana
Arcade2Earn initially built its gaming platform on Solana but later decided to move to Ethereum due to technical needs. The project did not abandon the Solana code entirely and intends to use it for future multi-chain expansion.
Arcade2Earn Adopts Ethereum and Avalanche
Arcade2Earn is now developing its platform on Ethereum and Avalanche. The primary liquidity token, ARC, will be on Ethereum, while the synthetic platform token, xARC, will be on Avalanche. This decision allows Arcade2Earn to benefit from the liquidity depth and stability of Ethereum while taking advantage of the speed and lower transaction costs offered by Avalanche.
How Arcade2Earn Works
Arcade2Earn enables users to access games through “Mission Pools,” where they can play and earn money without needing to own NFTs. Mission Pool Operators (MPOs), such as gaming guilds or individual gamers, play web3 games using NFTs from Arcade’s treasury or borrowed from the platform. Mission Pool Contributors (MPCs), who are Arcade token holders, support specific MPOs and in-game activities by depositing xARC tokens in Mission Pools, with rewards distributed based on mission success.
Arcade2Earn Hot Take: Play-to-Earn Gaming Platform Raises $4.8 Million
Arcade2Earn, the play-to-earn gaming platform, has successfully raised $4.8 million in funding led by Crypto.com Capital. The platform recently shifted from Solana to Ethereum and Avalanche. It plans to conduct a public token sale for its $ARC token on the Fjord Foundry platform starting on Feb. 27. Arcade2Earn’s unique approach allows gamers to earn money without owning NFTs through its Mission Pools system. With this funding, Arcade2Earn aims to further develop its platform and attract more users to its gaming ecosystem.
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