GFAL receives $3.2 million via a seed funding round

Games for a Living, alias GFAL, an eb3-based video games startup, has obtained $2.3 million through a seed funding round initiated by Supercell Ltd and Mitch Lasky. Incidentally, Supercell Ltd is a mobile game-creating business based in Finland, whereas Mitch Lasky is a partner at Benchmark. 

GFAL will be utilizing the money to bring on board more professionals for the business and accelerate its production requirements. The funding is an addition to the $4.4 million worth of token reselling received by the entity last year via a token release by GFAL. 

GFAL’s team members come from companies such as King Entertainment, Digital Chocolate, and other prominent business houses. 

Presently, $GFAL, which is GFAL’s token, has a fully diluted valuation (FDV) amounting to $254,717,017, following the release of a token the previous year. 

The funding will be used to introduce GFAL’s Elemental Raiders, a mobile game. The pre-launch took place the year before, and the company reports that the game is seemingly receiving a favorable response. 

In a statement by Mitch Lasky, he spoke of his admiration towards GFAL and their Web3 gaming expertise. 

The Web3 gaming arena is gaining the interest of multiple investment businesses. Last year, the industry came in for $1.7 billion via funding rounds, with nearly 270 blockchain games soon to enter the gaming space. 

King River Capital Immutable and Polygon Labs recently formed a coalition to release $100 million worth of funds targeting the gaming sector. 

Elixir Games, a Web3 gaming platform, obtained $14 million via a seed funding round led by Square Enix, Solana Foundation, and other companies. Through this, the entity will release its conventional token, $ELIX. 

Illuvium managed $12 million through a series of A funding rounds from businesses such as Arrington Capital and Animoca Ventures.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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