- Arcade raised $8 million from several venture funds.
- The GameFi platform aims to revolutionize the play-to-earn industry.
- The funding round was led by Merit Circle, who declared to support Arcade more than just financially.
Arcade, an upcoming GameFi platform, has raised $8 million from several venture funds. The GameFi platform aims to create a full-scale economic system for Play-to-Earn (P2E) games.
The funding round was led by Merit Circle, with other participants including Tenzor Capital, GAINS Associates, Hingsdaul Capital, Crypto Capital, R-930 Capital, CitizenX, Alpha Prometeus, CSP DAO, Plutus VC, Shima Capital, OIG, Flow Ventures, Dynamite Ventures, Spring Dawn Ventures, and Leos Ventures.
Merit Circle CEO Marco van den Heuvel praised Arcade’s innovative concept for both DeFi and Play-to-Earn. He also declared support for Arcade, both financially and in an advisory role.
With its original concept, Arcade is undoubtedly pioneering the future when it comes to bridging the gap between DeFi and play-to-earn. We at Merit Circle are happy not only to support Arcade financially, but more so in an advisory role too. By working together, we believe we can revolutionize the play-to-earn industry,
The $8 million funding will be used to scale the platform and initiate a mass marketing campaign. The company will build on an existing $1.9 million in NFT assets that have been managed since the company’s beginnings in November 2021.
Arcade was designed to draw more users into the new GameFi and P2E ecosystem. The Arcade platform is designed to be straightforward. Users join ‘mission pools’ to participate in a specific ecosystem’s rewards by staking their gaming NFT assets.