P2E Platform C2X Secures $25M Funding, Reaches $500 Million in Total Value

P2E Platform C2X Secures $25M Funding, Reaches $500 Million in Total Value

The blockchain gaming platform will be accelerating the development of its ecosystem with the recent investment by some of the largest crypto investors.

Based on the official press release, C2X has raised $25 million from its private token sale, launched its initial exchange offering (IEO), and announced two of its newest advisors - crypto-focused venture fund Hashed, and blockchain network Terra.

The funding was led by three major VC firms including Sam Bankman-Fried’s FTX Ventures, Animoca Brands, and Jump Crypto. 

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Several other participants chimed into the private token sale like Galaxy Interactive, DeFiance Capital, Crypto.com, Xsolla, Huobi Ventures, Transcend Fund, Skybound, Unanimous Capital, Skybound, Bowei, Goal Ventures, Agnitio Capital, Blockchain Coinvestors, Concept Art House, Infinity Ventures Crypto, Play Ventures, and Goal Ventures.

With the investment, C2X will continue working with its partners Com2uS, Hashed, and Terraform Labs to accelerate the platform’s development, and create new incentives in the form of blockchain-powered games.

Director of MetaMagnet (parent company of C2X) Paul Kim spoke on the recent investment into the blockchain platform, stating: 

"C2X is revolutionizing the blockchain gaming ecosystem by providing a platform that actively supports both its users and creators. As part of our long-term growth strategy, we are actively seeking out strategic endeavors that will exponentially increase the expansion of C2X."

He also added that C2X will be taking full advantage of its "distributed ledger technology" in order to provide a secure platform for gaming enthusiasts and developers, with extra services coming in the future like an NFT marketplace and a mobile wallet. In fact, the platform expects to launch over ten new games this year.

Dom Z. - Crypto Analyst

by Dom Z. - Crypto Analyst, BitDegree


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