Crypto News

5×5 Gaming Closes $1.7M Seed Funding Round

On April 21st, 5×5 Gaming announced it had closed a $1.7 million seed funding round. This money will be used to build core games with a multicultural point of view that combine social gaming experiences with the use of digital assets and collectibles.

Some of the participants in this recent funding round include Com2uS, Harmony, and the co-founders of The Sandbox and Yield Guild Games. Additional investments have been made by Dialectic Capital and Lucid Blue Ventures.

The organization’s first game is Battle of Kingdoms. This game aims to honor and celebrate numerous cultures from around the world while allowing players to collect and digitally own NFTs that come in the form of warriors and soldiers from said cultures.

“We are a big believer in true digital asset ownership and the benefits that blockchain technology brings to us as game designers and developers. Having said that, we wanted to create an experience where having fun, quality content, making social connections, and competition are the focal points for our players; not the farmability of our game economy as you see in many early ‘crypto gaming projects,'” said Deniz Gezgin, the founder of 5×5 Gaming. “We believe there are better ways to incorporate play-to-earn flows, blockchain, and crypto technologies into games, and our experience with both game development and digital collectibles will help establish 5×5 Gaming as a gameplay-focused developer with multiple titles created with this vision and strategy.”

5×5 Gaming is a California-based cross-platform video game company that emphasizes both play-to-earn gaming models as well as digital asset ownership. The organization was founded two years ago.

(All information was provided by LinkedIn and WFMZ-TV)

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