ChainSafe, a Canadian Web3 infrastructure startup, has concluded a $18.75 million fundraising round supported by well-known industry venture companies, putting it on track to grow operations at a time when demand for gaming services and blockchain infrastructure is on the rise, as reported by Cointelegraph.
Round13, a venture firm, served as the lead investor in the Series A round. NGC Ventures, HashKey Capital, Sfermion, Jsquare, ConsenSys, Digital Finance Group, and Fenbushi Capital also contributed.
According to ChainSafe, the cash will promote the expansion and acceptance of Web3 technology.
The founding members of ChainSafe first met at a Toronto Ethereum event in 2017. Later that year, the blockchain research and development company ChainSafe was established. The business has created a software development kit that connects games made with the Unity platform to the blockchain and primarily focuses on multi-chain R&D.
Despite varying estimations, blockchain gaming, or GameFi as it is commonly known, may be valued at high multibillion-dollar levels in the years to come. According to those familiar with the sector, the estimated 1 billion online gamers predicted by 2025 will favour blockchain games.
(With insights from Cointelegraph)
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