Decentral Games Raises $5m for Developing Crypto-Slot Games
Decentral Games (DG), a next-generation gaming network at the confluence of metaverse and blockchain technology, has successfully completed its latest fund raising round, amassing $5 million in total.
Collab+Currency, Metaverse Ventures (Digital Currency Group), Bitscale Capital, Cluster Capital and AU21 Capital were among the investors who participated in the funding round.
The increased investment will aid the firm to expand its workforce and create new features and products more quickly.
Digital Currency Group’s VP of Development, Casey Taylor, stated
Decentral Games combines the uniqueness of avatars gambling in a virtual environment with the high-quality user engagement that gamers expect. We’re pleased to support Scott, Miles, and the rest of the team as they work to realize the enormous potential of blockchain-enabled gaming
Since its inception in 2019, Decentral Games has worked hard to achieve its goal of being the leading platform for wager-based games where gamers may gamble with Bitcoin. This year has witnessed the firm’s most significant growth in terms of both technical advancements and subscriber growth. The firm has taken advantage of the chance to increase the value proposition of its virtual environments and to bring together all of its products, which now comprise three virtual casinos, an NFT shop, and a virtual nightclub that will be launched soon.
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Decentral Games plans to utilize the cash to expand its network, including hiring more people in product development and commercialization, in order to keep acquiring new customers and accelerate the delivery of important features in the product line. This involves the creation of new casino table games such as crypto Poker, tournament-style poker, and a better slots game.
While the cryptocurrency market as a whole has seen a lot of volatility in recent times, $DG is still supported by solid fundamentals. Betting volumes have risen quarter over quarter since the token’s debut in December 2020, and have just surpassed a milestone of $80 million market cap. The platform’s robust cash flows have aided the treasury’s expansion, which now has more than $8 million in assets, a jump of 1000% from the previous quarter.
The firm has grown from 10 to 43 people in order to fulfill community and investor needs. The larger cryptocurrency community has praised DG for being the world’s foremost metaverse employer, having created 20 hosting positions for remote employees so far, with each of them playing an important part in greeting new customers into the metaverse.
Commenting on the venture, Miles Anthony, co-founder and CEO, said:
Community participation has always been a major focus for the Decentral Games team. The traditional gaming business has always worked by pitting the house against the gambler. Decentral Games’ community-first approach has successfully inverted this paradigm, resulting in symmetry between investors and gamers by allowing anybody to ‘be the house‘.
We are ecstatic to welcome our new associates, who will help us strengthen our financial performance and provide our team the freedom to continue focusing on community-driven efforts while growing our capacity to deliver more sophisticated games and activities to market.
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