Web 3 gaming platform FreshCut, built on Polygon, raised $15 million in a funding round led by Galaxy Interactive, Animoca Brands, and Republic Crypto. According to the company, FreshCut will be both “watch-and-earn” and “create-and-earn,” meaning that both viewers and content creators will be able to earn the platform’s FreshCut Diamond token. The Diamond token will also act as a governance token, allowing holders to have a say in what happens on the platform.
“If you’re trying to build something long-term and sustainable and that has real value, it can’t just be a flash in the pan,” said James Kuk, Co-Founder and CEO of FreshCut. “This is why a lot of Web 3 gets a bad rap. It’s all about play-to-earn, earn your stuff, dump your stuff before everyone else catches up and catches on… [but] that’s just bad for 1) gaming and 2) just building for people. And that’s what Web 3’s all about—it’s actually about people, not companies.”
The game launched on Polygon last week, but those looking to earn tokens will have to wait until this summer when FreshCut launches its wallet integration.
FreshCut will also feature a tipping and membership subscription which will allow users to use their tokens to unlock extra perks and prizes.
(All information was provided by Decrypt)