C2X, operator of blockchain-gaming platform, valued at $500 million

The operator of the blockchain-gaming platform C2X — MetaMagnet — raised $25 million in a private token sale, valuing the company at $500 million. The financing was provided by FTX Ventures, Jump Crypto, Animoca Brands and other investors.

Hello #C2X Explorers!

We’re proud to announce the closing of our $25M funding round led by @FTX_Official @jump_ and @animocabrands.

We selected these partners based on their history in leading ventures in their industries.

Full Press Release: https://t.co/SHlcEwlV2a pic.twitter.com/XCd8eLPAHl

— C2X (@C2X_WORLD) March 18, 2022

The token sale also included Hashed, Terra, Transcend Fund, Galaxy Interactive, Skybound, Blockchain Coinvestors, DeFiance Capital, Play Ventures, Crypto.com, Infinity Ventures Crypto, Unanimous Capital, Bowei, Xsolla, Huobi Ventures, Goal Ventures, Concept Art House, Agnitio Capital and Formless Capital

IEO of the native C2X token will be held on March 18. Information about its listing will be disclosed later.

The $CTX IEO is officially live, and for one hour only!@C2X_WORLD @Com2uS @Com2uS_Holdings #C2X
Click here to participate: https://t.co/UtJ400NcfS pic.twitter.com/86aaIJGxfP

— FTX (@FTX_Official) March 18, 2022

Developed by the Korean game publisher Com2uS Group in collaboration with Terraform Labs and Hashed as advisers, C2X provides a comprehensive solution for blockchain games, including tokenomics, NFT marketplaces and a wallet. The project is based on the Terra network.

The scalable design of the platform enables users to manage all digital assets with ease.

“C2X transfers power from a centralised organisation to users and developers,” — said Paul Kim, CEO of MetaMagnet.

In 2022, more than ten new games are planned for release on the C2X platform.

In December 2021, Hashed created an ecosystem-focused Web 3.0 fund with a size of $200 million. The year before, the blockchain company attracted $120 million for a fund to support technology startups and DeFi projects.

Newzoo analysts predicted that P2E models in games will become more widespread as developers seek to diversify revenue sources.

According to DappRadar, in January $1 billion was invested in the GameFi infrastructure and blockchain games segment — a quarter of the total for 2021.

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