Circle of Games Raises $1M Funding From Nazara Technologies and The Hashgraph Association
Circle of Games (COG), the leading Web3 multi-gaming platform, has raised $1 million in equity funding from strategic investors Nazara Technologies FZ LLC (a wholly-owned subsidiary of Nazara Technologies Limited) and The Hashgraph Association, a Swiss-based nonprofit corporation at the center of global digital enablement for Hedera. The most popular distributed ledger technology in the world is Hedera. It points to the possibility of a Web3 gaming Renaissance. Nazara is the sole listed gaming company in India and the largest in terms of eSports, sports media, gaming studios, and adtech. The business recently promised to invest USD 100 million in cutting-edge brands and IPs in the web3, virtual reality, and artificial intelligence spaces.
COG secures $1M strategic funding
With this funding, COG hopes to expand internationally in the Middle East and Africa, Asia, the United States, and the European Union in 2024. Furthermore, it looks to expedite its go-to-market strategy and enhance platform capabilities. By Q4 2024, COG, which has over 250,00 registered users, intends to increase the number of games available on its platform from the current six to over ten. COG hopes to reach millions of players in the worldwide casual and hyper-casual gaming scene with this expansion.
In addition to the investment, COG is dedicated to utilizing its current network of strategic alliances and partnerships with leading global Web3 projects and ecosystems, including TheFishVerse, KGeN/IndiGGMetarun, Chingari, Solana, Foundership, and numerous Gaming Guilds/DAOs. With these alliances, COG has immediate and exclusive access to more than 500 million gamers across more than 50 nations.
COG’s multi-chain technology implementation
By implementing multi-chain technology, COG is giving players complete ownership and control over their in-game assets and tokens, with Hedara serving as the main net where the majority of on-chain transactions take place. By the end of Q2 2024, COG plans to launch its native token, the $COG Token, offering a better and more creative user experience. COG, a blockchain-based game development company founded by veterans of the gaming and tech industries, creates skill- and casual-based games featuring play-to-earn reward systems.
Through its Distribution Infrastructure Network (DIN), COG will have numerous opportunities to utilize these resources globally as a result of this partnership. A key component of COG’s multi-gaming platform, the DIN is intended to efficiently globalize the distribution and monetization of gaming content.
Here’s what they said
Rabilal Thapa, CEO and Co-Founder of Circle of Games, said,
“This strategic partnership not only represents a significant endorsement of COG’s mission and potential but also places the company in a prime position to exploit the expansive capabilities of Web3 gaming innovations, globally. This collaboration goes beyond mere capital investment; Nazara will offer strategic guidance, support and access to its extensive network to help the company grow and Hedera will provide COG access to their vast collections of games, ecosystems, and substantial users and their cutting-edge technology. I would like to express my sincere gratitude to Nazara, Kamal Youssefi, President of The Hashgraph Association, Stefan Deiss, Co-Founder & CEO of The Hashgraph Group – the service delivery and venture building arm of THA and Anindya Roychowdhury, Head of Ventures of THG (whose relationship with Nazara goes back 25 years), for their invaluable and comprehensive support in the development of this strategic partnership”
Kamal Youssefi, President of The Hashgraph Association added
“We are pleased to further empower the global Web3 gaming industry through our co-investment with Nazara Technologies in Circle of Games – the leading Web3 multi-gaming app aiming to onboard the next billion users onto the Hedera network.”
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- Netra is a Dual Masters graduate in International Business and Marketing. She is a content-writing enthusiast and a social media addict. In her downtime, you will find her headbanging to Pop songs from around the world. She is also a sports fanatic and especially loves F1, Volleyball, and Cricket. Her hobbies are baking and watching Anime.
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