WAX Studios raises over $10 million from OKX Blockdream Ventures

WAX Studios, the team behind the blockchain Worldwide Asset eXchange (WAX), has raised more than $10 million from OKX’s investment arm.

📢 Welcome to the WAX family, @OKX_Ventures!

We’re thrilled to announce that OKX Blockdream Ventures funds WAX Studios with $10M+ to join us on our journey to take over the #GameFi & #NFTs space! #PlayToEarn

🔗https://t.co/9XoOblIYJl.

— WAX Blockchain (@WAX_io) June 2, 2022

The funds raised will be directed to enhancing NFT in P2E-games built on WAX, development of in-game tokens and updates to the WAX Cloud Wallet.

According to VentureBeat, the project’s network now handles more than 23 million transactions per day. The blockchain hosts 23 games with a combined audience of over 12 million accounts.

WAX Studios, founded in 2017, employs more than 100 people.

OKX Blockdream Ventures is a $100 million fund focused on scaling blockchain projects.

will see greater adoption in P2E models in games, according to February estimates by Newzoo, as developers seek to diversify revenue streams.

announced the launch of a $600 million fund in May, with a focus on ‘gaming infrastructure and metaverse technologies’.

announced the creation of the Emoote fund worth $20 million in June. The fund will focus on investments in Web3 projects.

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