South Korean game publisher Com2uS has increasing ambitions in the crypto games space, and revealed its upcoming C2X blockchainblockchain gaming platform in December. Now C2X has raised funds via a private tokentoken sale to a number of major crypto players at a $500 million valuation.
Today, C2X operator MetaMagnet Ltd. announced that it has sold $25 million worth of its token at that half-billion-dollar valuation in a round led by FTX Ventures, Animoca Brands, and Jump Crypto. FTX Ventures is the investment arm of crypto exchange FTX, while Animoca is a leading game and metaverse investor, and Jump is another major crypto investment firm.
Beyond those investors, other participants in the private token sale include Terra, Hashed, Crypto.com, Galaxy Interactive, Huobi Ventures, and The Walking Dead IP holder Skybound. FTX held a brief initial exchange offering (IEO) for C2X’s token (CTX) today, with a public listing scheduled for March 21.
Summoners & Monsters... We'll make it through TOGETHER. Here's a glimpse into the dynamic storyline of #SummonersWar Chronicles!
The game will also feature a P2E (Play to Earn) format utilizing #blockchain technology.
C2X is built on Terra, the rising blockchain network. Terra’s LUNA coin is currently the seventh-largest cryptocurrency by total market cap, currently topping Solana (SOL) and Avalanche (AVAX) by that metric. Terra, which is part of the Cosmos ecosystem, also plays host to the UST stablecoinstablecoin.
Com2uS and Com2uS Holdings are described as the “original contributors and master content providers” of the C2X network. Terra developer Terraform Labs and crypto-centric VC firm Hashed will serve as advisors to the platform.
C2X is slated to host a number of upcoming crypto-powered games, including play-to-earn role-playing game Summoners War: Chronicles, baseball game Crypto Superstars, and Golf Star. The company plans to launch more than 10 games on C2X during 2022.
Com2uS is primarily known for free-to-play mobile games, including the original Summoners War, which has generated more than $2 billion in revenue to date. The firm’s other notable games include licensed titles like MLB 9 Innings 22 and NBA NOW 22.
As the wider NFT market surged in 2021, so did interest in blockchain-powered games—with scads of them launched or announced over the past year. Now Galaxy Interactive, Republic Crypto, and Alameda Research have formed a co-investment alliance focused on the Web3 gaming space.
NG+, which is short for New Game+, is an investment consortium that will see the three notable crypto firms co-invest to cultivate the next generation of tokenized video games.
New Game+ is a common video game term that r...
Prior to launching C2X, Com2uS signaled its interest in the growing blockchain space by investing in Animoca Brands during its own $65 million round last October, which valued Animoca at $2.2 billion (it’s since jumped to over $5 billion).
Animoca is the publisher behind the upcoming Ethereum-based metaverse game The Sandbox, and an investor in notable crypto startups like OpenSea, Dapper Labs, and Axie Infinity developer Sky Mavis.
GG Newsletter
Get the latest web3 gaming news, hear directly from gaming studios and influencers covering the space, and receive power-ups from our partners.
It's tough to keep tabs on the ever-changing crypto gaming space, thanks to the constant flow of news: everything from big game launches and fun degen experiments to token price swings and occasional project collapses. It's a lot to follow.
Luckily,we're plugged in at Decrypt's GG. We cover the biggest happenings throughout the week, and then this weekly roundup provides a quick way to catch up, as well as find a bunch of other little bits of news from throughout the week.
Top stories
MapleStory...
Ethereum farming game Pixels is currently offering players the opportunity to earn a token airdrop by flirting with an AI-powered non-player character (NPC)—yes, really.
Players have jokingly branded the experience as a “rizz-to-earn” mini-game, in the wake of the popular but fleeting play-to-earn and tap-to-earn game models.
Players must load up Pixels and head over to Terra Villa before entering AiVeronica’s castle to purchase a key for 100 PIXEL tokens ($5). You can also buy one from the AiVe...
Right this moment, thousands of AI agents trained on billions of Solana transactions are acting as meme coin traders, competing to rack up as many tokens as they can while fighting through simulated economic disasters and pump-and-dump schemes—just like real traders.
And so far, they really seem to be into hot dogs.
It’s all part of a crypto game called DX Terminal, with AI agents that were minted as NFTs on Coinbase’s Ethereum layer-2 network Base. They’re all competing as part of a one-week ex...