Gaming Platform OP Games Raises $8.6m To Bridge Game Developers To Web 3.0

OP Games a startup that enables game developers to monetize their work using Web 3.0, raised $8.6 million of seed funding.

OP Games Investors (CNW Group/OP Games)

Leading blockchain venture capital firms participated in the round, including Republic Crypto, Ascensive Assets, Morningstar Ventures, Mechanism Capital, Polygon Studios and Bitcoin.com. Additional investment came from Mentha Partners, OKex Blockdream Ventures, SevenX Ventures, GFS Ventures, Defi Alliance and more.

"We welcome this hearty endorsement of the work we have done to power up the gaming landscape using Web 3.0's superpowers: open-source and community ownership," said the startup's CEO and co-founder Chase Freo .

"The $150 billion gaming industry is evolving at an astonishing rate. By giving developers the tools and guidance they need, and by giving players the chance to co-create their favorite projects, we are opening up new revenue channels for the sector's talented creators."

OP Games  is building a platform that combines non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs), working with developers to create games that they can collaborate on with their communities.

The platform will incorporate a Play-and-Earn model, a variation on a pillar of the gamefi movement. The company's player-facing gateway is OP Arcade, where communities  discover HTML5 games, compete for prizes in tournaments, and participate in a progressive crypto-economy.OP Arcade is built on the developer-friendly NEAR Protocol.

OP Games  will support the creation of up to 500 games by the end of 2022, nurturing a vibrant community of creators, players and investors.

The venture, created by a team of gaming industry veterans, is launching its genesis NFT project, Arcadians , on October 12.  This inaugural series of Avatars for the OP Arcade platform are built on the open-source tools created by OP Games, and  are one of the pillars of the upcoming OP Games metaverse.

About OP Games

OP Games is a multi-chain gaming platform currently built on Ethereum and the NEAR Protocol. The project aims to create a new gaming ecosystem centered on community-owned games involving NFTs and DAOs. In the process of lowering barriers to ownership, OP Games aims to help developers monetize their work via patronage, defi protocols, and play-to-earn.

Related Links:

Website: https://opgames.org/

Twitter: https://twitter.com/OPGames_

Discord: https://discord.com/invite/GFZgZ84

Telegram: https://t.me/outplaygames

Medium: https://opgames.medium.com/

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/gaming-platform-op-games-raises-8-6m-to-bridge-game-developers-to-web-3-0--301394873.html

SOURCE OP Games

News Provided by Canada Newswire via QuoteMedia

The Conversation (0)
NorthStar Gaming Holdings (TSXV:BET)

NorthStar Gaming Holdings


Keep reading...Show less
Person holding phone that says "GameStop" in front of stock trading charts.

GameStop Frenzy Cools, E*Trade Considers Roaring Kitty Ban

GameStop (NYSE:GME) continues to cool following a trading frenzy that drove shares up by 75 percent between the close of trading last Friday (May 31) and the start of trading on Monday (June 3).

The brief rally, which took GameStop shares to US$40.09 on Monday morning, was sparked by a Reddit (NYSE:RDDT) post made late Sunday (June 2) by an account tied to the video game retailer's most prominent supporter, Keith Gill.

Gill, who ignited the meme stock craze in 2021 and is known as Roaring Kitty on other platforms, posted a screenshot on Reddit's Superstonk subreddit that shows a purported US$175 million position in GameStop shares and call options.

Keep reading...Show less
Cell phone showing GameStop stock chart.

GameStop Surges Over 70 Percent in Flashback to 2021 Frenzy

Over three years after the infamous GameStop (NYSE:GME) short squeeze, the American retailer’s share price skyrocketed as much as 110 percent on Monday (May 13) before pulling back to a more than 70 percent gain.

The surge came on the heels of a social media post by "Roaring Kitty," also known as Keith Gill. His first online appearance since 2021 has reignited memories of the meme stock frenzy that captivated markets in 2021.

Gill, who gained notoriety for his bullish stance on GameStop, posted a meme on X (formerly Twitter) depicting a focused video gamer. It received widespread attention, accumulating over 81,000 likes and 9,000 comments in just a few hours.

Keep reading...Show less
NorthStar Gaming Chairman and CEO Michael Moskowitz.

NorthStar Gaming Leverages Content to Create Engaged, Active Players, CEO Says

NorthStar Gaming (TSXV:BET,OTCQB:NSBBF) is leveraging its rich, compelling content to better engage its customers, which ultimately leads to higher revenue, said NorthStar Chairman and CEO Michael Moskowitz, following an earlier announcement that the company is rolling out enhancements to the Sports Insights content on its platform.

“From the time that we founded NorthStar Gaming, we took the view that providing compelling content would lead to higher engagement with our customers,” he said. "And we're finding just that. We're planning to launch Sports Insights 2.0 in the first half of 2024 with redesigned sports and homepages, live scoreboards and tickers, live odds, trending topics and a greater tie-in in terms of the player journey and promotional offers that we provide to them."

Moskowitz noted that leveraging content helps attract new customers, with several media organizations using the company’s content on their own sites. “Ultimately, these articles and this content will help to create awareness around the NorthStar Bets brand and platform, and ultimately drive traffic to our site, which will convert into revenue.”

Keep reading...Show less
hand touching phone

Game-changing Prospects for the iGaming Market

iGaming has grown considerably in recent years. Driven by innovations in web technology and a changing regulatory landscape, online casinos and sportsbooks are more popular than ever.

To understand how the landscape may change moving forward, investors should assess how the industry has evolved in recent years.

Keep reading...Show less
smartphone on podium

Top Trends Shaping the Canadian iGaming Market

From emerging technologies to evolving regulations, the trajectory of iGaming has changed substantially in recent years as the market has experienced significant growth.

In 2022, Ontario's provincial government introduced game-changing legislation that established a regulatory framework for iGaming. Due to this legislation, regulated iGaming successfully displaced the unregulated market, according to Attorney General Doug Downey, creating over 1.6 million active player accounts across more than 70 operator websites as of April 2023 — just over one year following the change.

Ontario's regulation has also laid the groundwork for widespread change in the iGaming space across Canada. As iGaming continues to evolve, it's important to have a deeper understanding of both new and existing trends that will shape the industry's future, as well as regulations.

Keep reading...Show less

Latest Press Releases

Related News

×