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Supercell Invests in Crypto Gaming Startup
Mobile gaming powerhouse Supercell, known for popular titles like Clash of Clans and Clash Royale, recently made a strategic investment in a crypto gaming startup called Games for a Living (GFAL). This investment is part of a broader $3.2 million seed funding round aimed at propelling GFAL’s growth and development. Co-founded by Trip Hawkins, the original mastermind behind Electronic Arts (EA), GFAL is spearheading the creation of games centered around NFTs and cryptocurrency tokens.
Funding and Expansion Plans
With the infusion of new capital, GFAL intends to bolster its core team and expedite its game production efforts. The startup’s recent GFAL token sale generated $4.4 million in funds, laying the foundation for its current expansion endeavors. CoinGecko data reveals that the value of the GFAL token has surged by an impressive 235% since March 2023, although its market capitalization remains relatively modest at $42 million, positioning it as the 748th most valuable cryptocurrency in the market.
In a statement, Supercell CEO Ilkka Paananen expressed his excitement about collaborating with the GFAL team, citing past experiences with the company’s leadership. He eagerly anticipates witnessing the achievements that lie ahead for GFAL. Apart from Supercell, other notable investors in this funding round include former gaming entrepreneur Mitch Lasky and ex-co-managing director of ESL, Heinrich Zetlmayer.
Growing Success and Future Prospects
Reflecting on the recent funding milestone, Trip Hawkins remarked on GFAL’s significant progress over the past year. He lauded the support from key investors like Supercell, emphasizing the validation that this investment brings to GFAL’s vision. Looking ahead, the company is optimistic about its trajectory and remains committed to delivering exceptional gaming experiences while sustaining its growth momentum.
In 2023, GFAL introduced a soft-launched title, Elemental Raiders, in select regions as part of its ongoing development initiatives. The studio reports encouraging performance metrics and continual enhancements for the game since its initial release. This positive reception underscores GFAL’s dedication to innovation and quality in the evolving landscape of crypto gaming.
Sources: Supercell, Games for a Living, CoinGecko, Elemental Raiders
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