C2X, a Web 3.0 gaming platform built on the Terra blockchain, raises $25 million in a funding round led by FTX Ventures, Jump Crypto and Animoca Brands.
The fundraise was conducted as a private token sale, which valued C2X at $500 million. C2X also conducted an Initial Exchange Offering (IEO) on March 18, 2022, for the Platform’s native token, C2X. The public listing of the C2X token will be announced at a later date.
C2X private token sale
The private token sale saw participation from a marque list of investors including FTX Ventures, Jump Crypto, Animoca Brands, Hashed, Terra, Transcend Fund, Galaxy Interactive, Skybound, Blockchain Coinvestors, DeFiance Capital, Play Ventures, Crypto.com, Infinity Ventures Crypto, Unanimous Capital, Bowei, Xsolla, Huobi Ventures, Goal Ventures, Concept Art House, Agnitio Capital and Formless Capital.
C2X selected these investors due to their prominence and history of leading ventures in their respective industries, including Gaming, Crypto, DeFi, Blockchain and entertainment.
Paul Kim, Director of MetaMagnet Ltd., said:
“C2X is revolutionizing the blockchain gaming ecosystem by providing a platform that actively supports both its users and creators. As part of our long-term growth strategy, we are actively seeking out strategic endeavors that will exponentially increase the expansion of C2X.”
Paul mentioned that 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.”
Paul said, “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. Developers will also have access to the full features of C2X; mobile wallet, NFT marketplace, and other tooling, as well as an experienced team that can advise on the in-game economy. C2X puts the power in the hands of the users and builders, not in a single centralized entity, enabling the full community to direct the platform’s operations and fully invest in its success. We would like to thank all of our investors and are looking forward to partnering with them to further advance the blockchain-based gaming ecosystem.”
C2X to release ten new gaming titles in 2022
C2X said that over ten new gaming titles will be released and supported by the C2X platform in 2022.
Built on Terra, C2X gaming architecture is an application-specific blockchain built on the Cosmos SDK and Tendermint consensus, which ensures that all assets and data needed will remain secure, transparent and tamper-proof.
According to C2X, the Terra blockchain enables developers to build on a robust ecosystem that rewards both users and creators. With the support of its partners, Com2uS, Com2uS Holdings and Terraform Labs, C2X aims to be a pioneer in the web3 gaming industry, while also providing builders on the platform access to additional tooling needed to create blockbuster gaming titles.
C2X revealed that its web3 gaming platform is guided heavily by Com2uS and Com2uS Holdings, global multi-content and platform companies that lead the digital revolution of the future beyond gaming with their expertise in blockchain technology, who are the original contributors and master content providers with Terraform Labs and Hashed operating as C2X’s advisors.
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