The C2X gaming platform on Terra Blockchain received a raise of $25 million in a token sale. The purchasers include FTX Ventures, Animoca Brands, and Jump Crypto. C2X is a hashed-advised gaming platform with a valuation of $500 million.
C2X plans to launch its own publicly traded token by the same name in the near future. The release date is not yet finalized. This platform will include NFT marketplaces and a wallet. It will also be based on the Terra blockchain and advised by Hashed who is a long-time investor in the Web 3 gaming industry. Not just this, it is also a major player in the Terra ecosystem.
The managing partner at Hashed, Baek Kim highlighted the fact the sentiments in the current time have shifted since the growth of Axie leading to a talent inflow to Web 3. This was one of the factors that motivated Hashed earlier to participate in C2X’s private token sale. They even raised $200 million funds of their own to support Web 3 gaming. The recent rise received by C2X is an affirmation of confidence that enterprises like FTX, Jump Crypto and Animoca Brands have in the growth of the Web 3 gaming industry. The trio has invested hundreds of millions of dollars over the past few years through various gaming funds. What provides Block technology an edge over others is the transparency and a secure platform to buy and sell or store the assets. Applying this concept to video games was a logical next step and has taken the entire industry a notch up. This is exactly what C2X excels at. It puts the power in the hands of the users and the builders. A single centralized entity enables the entire community to direct the operation of the platform and fully invest in its success.