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Web3 gaming platform Circle of Games (COG) has secured $1 million in funding from strategic investors. Nazara Technologies and The Hashgraph Association are among those who participate in this investment.
The investment aims to accelerate COG’s growth and expand its global reach in the Web3 gaming market.
Circle of Games Aims to Bring Millions of Gamers to Web3
The funding aims to support COG’s efforts to add more games to its platform, improve capabilities, and establish a presence in the US, Europe, the Middle East, Africa, and Asia.
Currently, COG has over 250,000 registered users. It plans to onboard millions of gamers from the casual and hyper-casual communities by 2026.
Nazara, India’s only publicly traded gaming company, brings substantial industry experience in eSports, sports media, and technology. The company’s recent commitment to investing in Web3 companies aligns perfectly with COG’s focus on blockchain-powered gaming experiences.
Read more: Blockchain Gaming: The Keys to the Metaverse Castle
The connection between Hedera, backed by The Hashgraph Association, and COG’s use of Hedera for its transactions also makes the investment noteworthy. It represents a support to COG’s potential and role within the Hedera ecosystem.
Regarding this investment, Kamal Youssefi, President of The Hashgraph Association, expressed confidence in COG’s potential.
“We are pleased to further empower the global Web3 gaming industry through our co-investment with Nazara Technologies in Circle of Games,” Youssefi said.
Beyond the investment, COG plans to leverage its existing collaborations with Chingari, Solana, Foundership, KGeN/IndiGG, Metarun, TheFishVerse, Ninja Games, and various gaming communities to reach a massive audience of over 500 million gamers across the globe.
“This strategic partnership … places the company in a prime position to exploit the expansive capabilities of Web3 gaming innovations globally,” said Rabilal Thapa, CEO and co-founder of Circle of Games.
COG offers casual and skill-based games integrated with play-to-earn mechanics and true asset ownership. With Hedera as the primary mainnet, COG’s multi-chain approach aims to give players greater control and flexibility.
Read more: Crypto Gaming: What Is It and How Does It Work?
A key component of COG’s growth strategy is its Distribution Infrastructure Network (DIN), which streamlines game distribution and monetization on a global scale.
The company plans to launch its native token, COG, by the end of 2024.
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