Sport writer Legendary Video games has secured $37 million in Sequence C1 funding, with plans to launch a brand new market and pursue different revenue-generating initiatives. With this funding, Legendary will proceed to carry the unicorn standing with a valuation of over $1 billion.
“Our focus is optimizing our enterprise to get to profitability by yr’s finish, and the funds will primarily be utilized in our efforts to attain that,” informed John Linden, co-founder and CEO of Legendary Video games chatting with Cointelegraph.
The spherical was led by Scytale Digital with ARK Make investments, Animoca Manufacturers, MoonPay, PROOF VC, and Stanford Athletics, alongside earlier buyers Andresseen Horowitz, WestCap, Gaingels, Signum Development, and Struck Capital. Legendary expects an extra $20-$30 million elevate within the coming months, when the complete spherical is anticipated to shut.
The writer plans to launch in just a few months its new recreation Nitro Nationwide World Tour, for which pre-sales of nonfungible tokens (NFTs) have been ongoing since February. Moreover, the funds shall be used to develop an in-game market for its different title NFL Rivals, which not too long ago hit over a million downloads.
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“Nitro Nation World Tour would be the third recreation in our portfolio and is slated to be launched inside the subsequent few months. We have now a number of video games nonetheless in improvement that now we have but to announce,” commented Linden.
Legendary not too long ago introduced the migration of the Legendary Chain from the Ethereum blockchain to the Polkadot ecosystem, saying Ethereum’s gradual transaction speeds and excessive transaction prices led to the choice. “What this transfer actually comes right down to is that Ethereum merely is not optimum or perfect, given the rising wants of our platform. […] We wanted a blockchain accomplice that’s ready to scale with us,” defined Legendary CEO.
With $29 million in gross sales prior to now 30 days, Legendary is likely one of the prime blockchains by NFT gross sales quantity. The brand new fund is an extension of prior capital raises, together with $225 million secured in two rounds in 2021.
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