C2X has raised $25M to expand gaming ecosystem on Terra
Blockchain gaming platform C2X has raised a $25 million funding round, parent company MegaMagnet announced Thursday.
Gaming platform C2X raises $25 million in funding
The funding round valued C2X at $500 million and was led by FTX Ventures, Jump Crypto and Animoca Brands. Other investors included Hashed, Terra, Transcend Fund, Galaxy Interactive, Skybound, Blockchain Coinvestors, DeFiance Capital, Play Ventures, Crypto.com, Infinity Ventures Crypto, Unanimous Capital, Bowei, Xsolla, Huobi Ventures, Goal Ventures, Concept Art House, Agnitio Capital and Formless Capital.The platform, which will include "token economics, NFT marketplaces and a wallet," will be built on the Terra blockchain and advised by Hashed, a long-time investor in gaming and key player in the Terra ecosystem. The company was involved in C2X's private token sale and launched its own $200 million fund in December to invest in Web3 start-ups. C2X says the game is heavily steered and partially developed by South Korean game publisher Com2us, which is also an advisor to Hashed, according to a press release.
What is C2X?
C2X is a Web 3 gaming developer that focuses on helping developers apply blockchain technology to their games. The platform is based on the Terra blockchain and offers blockchain gaming solutions, including token economics, NFT marketplaces, and wallet. It plans to launch a governance token soon, which will be used to democratize all service decisions and operations of games built on the ecosystem.“Blockchain technology provides a transparent and secure platform for users to buy, sell and store assets, and applying this concept to video games was the logical next step,” Paul Kim, director of MetaMagnet, said in a press release. “C2X puts the power in the hands of the users and builders, not in a single centralized entity, enabling the full community to direct the platform’s operations and fully invest in its success.”
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