Web3 gaming platform Circle of Games secures new funding
Web3 gaming platform Circle of Games (COG) has secured $1 million in funding from strategic investors. Nazara Technologies and The Hashgraph Association are among those participating in this investment.
This investment aims to accelerate COG’s growth and expand its global reach in the Web3 gaming market.
Circle of Games aims to bring millions of gamers to Web3.
The funding aims to support COG’s efforts to add more games to the platform, improve features and build a presence in the United States, Europe, the Middle East, Africa and Asia.
COG currently has over 250,000 registered users. We plan to recruit millions of gamers from casual and hypercasual communities by 2026.
As India’s only publicly traded gaming company, Nazara brings significant industry experience in esports, sports media and technology. The company’s recent commitment to investing in Web3 companies aligns perfectly with COG’s focus on blockchain-based gaming experiences.
Read more: Blockchain Games: The Key to the Metaverse Castle
The connection between Hedera, which is backed by the Hashgraph Association, and COG’s use of Hedera for transactions is also noteworthy for investment. This demonstrates support for the potential and role of COG within the Hedera ecosystem.
Commenting on this investment, Hashgraph Association President Kamal Youssefi expressed confidence in COG’s potential.
“At Circle of Games, we are excited to further power the global Web3 gaming industry through our joint investment with Nazara Technologies,” said Youssefi.
In addition to the investment, COG plans to leverage existing collaborations with Chingari, Solana, Foundership, KGeN/IndiGG, Metarun, TheFishVerse, Ninja Games, and various gaming communities to reach more than 500 million gamers worldwide.
“This strategic partnership puts the company in a prime position to leverage the expansive capabilities of Web3 gaming innovation globally,” said Rabilal Thapa, CEO and co-founder of Circle of Games.
COG offers casual and skill-based games that integrate play-to-earn mechanisms and true asset ownership. COG’s multi-chain approach aims to provide players with greater control and flexibility, with Hedera as the primary mainnet.
Read more: What are cryptocurrency games and how do they work?
A key component of COG’s growth strategy is the Distribution Infrastructure Network (DIN), which simplifies game distribution and monetization on a global scale.
The company plans to launch its own token, COG, by the end of 2024.
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