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Arcade, a novel GameFi platform, is set to introduce the cutting-edge practice of "Protocol Controlled Value" in the play-to-earn segment. With its unique tokenomic model, even crypto newbies can benefit from top-notch on-chain games.
Arcade protocol completes funding round with $8 million raised
According to the official announcement shared by the team of Arcade ecosystem, its strategic funding round has concluded successfully.
🚨Arcade aims to remove obstacles preventing exposure to the #metaverse #P2E opportunity‼️
— Arcade 👾 | They Play, You Earn (@arcade2earn) February 1, 2022
By utilizing cutting edge #technology, forming partnerships, we'll make it possible🥳
Learn more about $ARCADE👇
🌐 https://t.co/4BRPgOk2zZ pic.twitter.com/OPBfNNS2cL
A total of $8,000,000 were raised from a clutch of highly reputable VCs. Investing veteran Merit Circle led the round, with Shima Capital, CitizenX, Alpha Crypto Capital, Tenzor Capital, Prometheus, Plutus VC, OIG, R-930 Capital, Flow Ventures, GAINS Associates, Dynamite Ventures, Hingsdaul Capital, CSP DAO, Spring Dawn Ventures and Leos Ventures also backing Arcade in its fundraising efforts.
Newly raised funds will support the progress of "Mission Pools," a concept that allows crypto holders to benefit from top play-to-earn ecosystems. Users should just stake xARCADE tokens, while the protocol will rebalance ARCADE crypto between gaming guilds of the most popular blockchain-based games.
Also, users can stake their in-game assets as NFTs to obtain extra periodic rewards.
Kevin Oakeson, co-founder of Arcade, is certain that the concept will introduce the GameFi segment to new generations of crypto enthusiasts:
Arcade's mission pools, funded by earnings, not emissions, make sure no one gets left behind in the Play-to-Earn metaverse Game-Fi revolution.
Here's how crypto holders can benefit from ARCADE
Marco van den Heuvel, CEO at Merit Circle, announces that besides funding his team will also support Arcade with expertise in blockchain technology and marketing:
With its original concept, Arcade is undoubtedly pioneering the future when it comes to bridging the gap between DeFi and play-to-earn. We at Merit Circle are happy not only to support Arcade financially, but more so in an advisory role too. By working together, we believe we can revolutionize the play-to-earn industry.
As a result, Arcade will introduce a cross-chain GameFi-centric ecosystem that will work like an ETF platform for ARCADE holders.
While initially launched on Solana, it will also be bridged to Ethereum (ETH), Polygon (MATIC), Binance Smart Chain and Avalanche (AVAX) blockchains.