Quick take:
- C2X is a gaming platform built on the Terra blockchain.
- The platform has named Terraform Labs and Hashed as advisors.
- C2X is set to release 10 new games this year.
Blockchain gaming platform C2X announced today that it has closed a $25 million funding round via a private token sale.
The round was led by FTX Ventures, Jump Crypto and Animoca Brands, with participation from a long list of investors including Hashed, Terra, DeFiance Capital, Play Ventures, Crypto.com, Huobi Ventures, Goal Ventures, Concept Art House, and many more.
Following the fundraise, C2X is now valued at $500 million. Along with the announcement, the platform also disclosed that an Initial Exchange Offering (IEO) was conducted on FTX exchange today for its native token, C2X. The public listing of the token will be announced at a later date.
C2X is built on Terra, an application-specific blockchain built on the Cosmos SDK and Tendermint consensus, which keeps assets and data secure, transparent and tamper-proof. Terra also enables developers to build on a robust ecosystem that rewards both users and creators.
Some of the features of the platform include a mobile wallet, NFT marketplace, and token economics.
With the fresh funding, C2X aims to provide builders on the platform access to additional tooling needed to create industry-leading titles. It is set to release 10 new titles over the course of this year.
“Blockchain technology provides a transparent and secure platform for users to buy, sell and store assets, and applying this concept to video games was the logical next step. At C2X, we have developed a platform that allows users to take full advantage of distributed ledger technology in a secure and transparent manner. It provides developers with an intuitive and user-friendly interface that eliminates the difficulty normally associated with building blockchain-based games,” said Paul Kim, Director of MetaMagnet Ltd, the company which operates C2X.
The platform has named crypto fintech firm Terraform Labs and venture fund Hashed as advisors. C2X is guided heavily by South Korean video game companies Com2uS and Com2uS Holdings, which are the original contributors and master content providers with Terraform Labs and Hashed.
Early-stage venture fund, Hashed, raised $200 million in December to invest in Web3 companies.
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