Pinoy-Founded Gaming Platform Raises $8.6m to help Game Developers Earn More Through NFT
Local Play-to-Earn games, NFT and Blockchain games will find a boom because of this.
OP Games, a platform that turns games, whether in whole or in part, as investable assets through NFT recently secured $8.6 million USD in seed funding. With videogames that integrate cryptocurrency and ability of players to earn while playing (i.e. the infamous Axie Infinity), we’re already stepping into, if not in the cusp of Web 3.0.
According to a write up by OP Games on the medium.com, there are more than 50 blockchain venture capital firms participated in drumming up with the seed capital, 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, Master Ventures, Kernel Ventures, ZB Capital and more.
OP Games will utilize NFT (Non-Fungible Tokens) and DAO(Decentralized Autonomous Organizations) giving more people the capacity to fund and earn through the projects instigated by OP Games. That project is to create as much as 500 games by the end of 2022 – all of which have either a play-to-earn model or NFT purchase associated with them.
This also means that it will attract various developers, players and investors to chime in and create a robust community. The player-facing gateway of OP games is OP-Arcade, a portal of various games that people can try and earn as they have fun playing. At the same time, this also becomes a way of showcasing various NFT assets that can be sold and maybe traded. There’s a lot of freedom for Game Developers and the community to interact whether you are an investor, a player of an NFT collector.
“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 founded by Chase Freno and Paul Gadi – who is also the co-founder of Altitude Games, a local game studio that has been creating mobile games since 2014 and currently has also dabbled in crafting blockchain games.
With successful blockchain games already running, and a huge seed money invested, it’s just a matter of time before OP Games also gain the success it deserves.