GFAL raises $3.2 million in seed funding to expand Web3 gaming venture

Web3 gaming startup Games for a Living (GFAL) has raised $3.2 million in seed funding, adding to the $4.4 million it already raised through a token pre-sale last year. This investment will fuel the company’s expansion and accelerate the development of new gaming projects.

From AI to Web3, GFAL fuses cutting-edge technological innovation and creativity to create games that inspire, captivate and resonate across generations, demonstrating a commitment to endless fun and immersive gameplay.

GFAL is backed by renowned investors

The GFAL seed funding round saw participation from high-profile investors including Supercell Ltd and venture capitalist Mitch Lasky, and strengthens GFAL’s financial foundation, built on the $4.4 million it raised from last year’s token pre-sale.

The latest funding round also included contributions from other high-profile investors such as Heinrich Zetlmayer, former joint managing director of esports giant ESL, Bonduc Bioscience SL, BCNBCNLVC and Sandsoft CEO David Fernandez.

These investors join a strong roster of existing backers including Bonsai Partners, Nekko Consulting and Inveready, promising a strong support network for GFAL’s ambitious projects in the Web3 space.

GFAL boasts veterans from leading companies.

Founded by veterans of industry giants including King Entertainment, Activision Blizzard, Electronic Arts, Netflix, and Digital Chocolate, GFAL is carving out a niche in the evolving gaming landscape through its efforts to pioneer new gaming genres and business models.

The company’s proprietary token, $GFAL, has reached a fully diluted valuation of nearly $255 million following one of the most successful token launches of 2023.

Promising game development

This capital infusion is earmarked to expand GFAL’s operations and accelerate production schedules for major projects. Among them is Elemental Raiders, a mobile game that had a soft release in March 2023 and has gradually been building a dedicated player base.

Ilkka Paananen, CEO of Supercell, known for hits such as Clash of Clans, cited his personal relationship and previous collaborations with members of the GFAL team when commenting on the funding.

“I have had the pleasure of working with the team so early in my career. We are so excited to join their journey and see all the great things they will accomplish,” said Paananen.

Mitch Lasky, a partner at Benchmark and who brings experience as a seasoned gaming executive, praised GFAL’s innovative approach. “I’ve been impressed by the GFAL team’s design-led approach to Web3 games. I’m excited to join my friends Trip Hawkins and Ilkka Paananen in this funding round to support Elemental Raiders and other titles,” Lasky said. said:

“Working on a project with Trip and Ilkka, who we’ve had several thrilling and successful years with at Digital Chocolate, is a dream come true. We can’t wait to show the world the great games we’re making.” Manel Sort, CEO of GFAL.

Trip Hawkins, GFAL’s co-founder and chief strategy officer, acknowledged the company’s significant growth and potential over the past year.

“I have tremendous respect for Ilkka, Mitch, Heinrich and our team, and this investment proudly gives us a clear endorsement. We are looking forward to next year and have the resources to deliver and continue to grow,” Hawkins said.

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