Co-founder of Amazon’s Twitch Secures $35M Seed Fund for Gaming NFT Marketplace

Co-founder of Amazon’s Twitch Secures $35M Seed Fund for Gaming NFT Marketplace

The American entrepreneur Justin Kan, who was the co-creator of justin.tv (which became twitch.tv), has secured a seed round for his recently launched digital collectible platform Fractal.

Several game publishers started exploring the possibilities of blockchain technologies, and NFT marketplaces with video game integration have started to emerge, simplifying the adoption of digital assets for game developers.

Based on the official news release, the $35 million fund will be used to accelerate the development of the Fractal NFT marketplace via increasing the number of developers and engineers, alongside bringing up the platform’s ecosystem.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

How to Make Passive Money with NFT? (Explained!)

How to Make Passive Money with NFT? (Explained!) How to Make Passive Money with NFT? (Explained!)

The funding round was led by Paradigm and Multicoin Capital, and supported by other leading VC firms in the crypto market like Andreessen Horowtiz (a16z), Animoca Brands, Coinbase Ventures, Solana Labs, Play Ventures, Crossover, Shrug Capital, and Position Ventures. Angel investors include Mark Pincus (Founder of Zynga), Do Kwon (CEO of TerraForm), entrepreneur Tim Ferriss, etc.

Co-founder of Fractal Justin Kan spoke on the recent investment and highlighted a couple of key areas that his team will work on during the further development of Fractal. He stated:

"We are working with the best AAA gaming studios with large communities to bring the coolest game experiences to players. The transition to blockchain assets is a new business model for gaming, and in 10 years will be an even bigger shift in the gaming world than Twitch was. Fractal hopes to onboard the next 100 million crypto users through blockchain games."

Despite being held under the radar until it was announced at the end of 2021, Fractal has already sold several gaming NFT collections like Tiny Colony, Yaku, Cinder, House of Sparta, and Nekoverse.

In fact, FTX has also introduced a similar initiative called FTX Gaming, with which the company will attempt to drive the adoption of play-to-earn games into the industry.

Dom Z. - Crypto Analyst

by Dom Z. - Crypto Analyst, BitDegree


Loading...