GAMERGAINS GETS $5.8 MILLION FOR SOLANA PLAY-AND-EARN PLATFORM SUPPORTING WEB2 GAMES
Kate Irwin - Apr 26, 2022
April 26, 2022 (Decrypt.co) -While there’s been plenty of news about upcoming Web3 games in recent months, few are focused on Web3 integrations for Web2 games. With its upcoming platform set to launch in beta in June, GamerGains wants to offer crypto rewards to traditional gamers.
GamerGains today announced a $5.8 million seed round led by Cadenza Ventures, with FTX, Winklevoss Capital, BlockFi, Tiger Global, Alumni Ventures, Lightbank, and others participating.
GamerGains’ browser-based application will reward gamers with its Solana-based cryptocurrency and SPL utility token $GAMER for playing existing AAA titles like Elden Ring, Grand Theft Auto V, Apex Legends, and Destiny 2.
Users will be able to connect Steam, Xbox, or PlayStation accounts to GamerGains’ platform to earn rewards, complete “challenges,” and compete in “wager contests” or even esports competitions.
According to GamerGains’ website, there also will be a DeFi component, with gamers able to earn $GAMER as interest by locking up their $GAMER tokens.
The main purpose of $GAMER is to provide exclusive access to gated products and features on GamerGains, a spokesperson for the company told Decrypt via email.
For GamerGains CEO and co-founder Jon Brovda, who comes from BlockFi’s client services and product teams, GamerGains is a “crypto-enhanced home for traditional gamers,” allowing them to monetize playing existing titles they already love.
“Our vision for GamerGains is to combine our passion for traditional PC and console gaming with Web3 innovations, allowing gamers at all levels to play and earn through fair, transparent challenges, contests, and tournaments,” Brovda said in a statement.
GamerGains’s other co-founders are Jacob Brovda, who worked on product design at DraftKings, and Kane Jeong, previously a software engineer at productivity startup ClickUp.
While most blockchain gaming initiatives have been restricted to web browsers and PCs, console gamers will also be able to earn rewards through GamerGains’ platform later this year. And for those looking to track their rewards on mobile, GamerGains plans to release iOS and Android applications as well.
