Crypto News

C2X On Terra Blockchain Raises $25M In Token Sale

Blockchain gaming platform C2X raised $25 million in a private token sale that included purchases from FTX Ventures, Jump Crypto, and Animoca Brands, valuing the platform at $500 million. C2X says it also has plans to launch its own publicly traded token by the same name, though no date for the release has been set, according to a press release. The platform, which will include “token economics, NFT marketplaces, and a wallet,” will be built on the Terra blockchain and advised by Hashed, a longtime investor in the Web 3 gaming industry and a major player in the Terra ecosystem.

“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,” said Paul Kim, Director of MetaMagnet. “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.”

The investment in C2X is the latest affirmation of the confidence that FTX, Jump Crypto, and Animoca Brands have in the growing Web 3 gaming industry. The trio’s support for the sector has included hundreds of millions of dollars of investment in the past year through various gaming funds.

(All information was provided by CoinDesk)

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