Fractal, the gaming NFT marketplace created by Twitch's Co-Founder (Justin Kan), announced on April 1st that the organization had raised $35 million in a seed financing round. Matt Huang of Paradigm, one of the funding round's leaders, will now join the company's board of directors. These funds will be used to hire more engineers and game developers.
Besides Paradigm, the round was co-led by Multicoin Capital. Other participants include Andreessen Horowitz, Solana Labs, Animoca Brands, Coinbase Ventures, Play Ventures, Position Ventures, Mark Pincus (Zynga's Founder), Crossover, Shrug Capital, Do Kwon (TerraForm Labs' CEO), Tim Ferriss, Eric Glyman, Karim Atiyeh (All of Ramp), Kevin Lin (Twitch's Co-Founder), Justin Waldron (Zynga's Co-Founder), Tekin Salimi (dao5's Founder), and more.
"We're excited for this group of investors who are fully aligned that blockchain is the future of gaming and can help us make that happen," Kan wrote. "With this new capital, we'll be focused on building out our engineering team and making the best product possible for gaming companies who want to build around blockchain and turn their games into truly open economies. We think games are how the next 100 million users get onboarded into crypto. LFG."
Fractal was launched by Justin Kan three months ago. The San Francisco-based organization operates as a marketplace for gamers to buy, discover, and sell gaming NFTs.
(All information was provided by Fractal, PYMNTS, and VentureBeat)
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