Published on: 17/02/2022
Banger Games secures €10 million funding to build first blockchain-based gaming hub
Banger Games has announced a major completion of a €10 million fundraising deal headed by Avalanche, a blockchain firm. The funds would be used to establish the “first-ever” blockchain gaming hub, according to the startup.
Banger Games aims to create a single common currency and market for players that will liberate them from the limitations that now exist in the gaming business.
This initiative will steer clear of profit-driven, micro-transaction dominant, and less engaging platforms. In this initiative, users will be able to push and delight themselves through competing, gaining, trading, and other activities.
Support from other investors
Borja Villalobos, CEO of Banger Games, responded to a question regarding what the existing market lacks: “As the industry has exploded in different directions, we are certain that gamers feel more disconnected than ever. Banger is the platform aimed at unifying this ever-increasing ecosystem into one central point in the gaming universe.”
While the crypto sector grows and evolves into the metaverse, virtual reality (VR), Indie Publishers, and Play-to-Earn games, Villalobos also emphasizes the importance of keeping users engaged.
Charlie Hu of Lucid Blue Ventures remarked on the value of Banger Games’ ambition: “As the Blockchain gaming industry slowly grows out of its shell, it will need hubs and safe places to learn and evolve for gamers and even publishers,” he said. “We feel that [Banger Games] is set to become this pillar in the industry that helps it through that process and beyond.”
Avalanche, Shima Capital, GSR, Flori Ventures, Poolz Ventures, G20, Lucid Blue Ventures, Belobaba Fund, Squares Capital, CSP DAO, Halvings Capital, OIG Capital, and BigCoin Capital have joined Banger Games in this project. Angel investors, like Jaynti Kanani, Co-founder of Polygon, Decentralized Autonomous Organizations (DAOs), and communities such as Neo Tokyo, have also joined the list.
Jaynti Kanani commented on the fundraising round, saying, “My investment in Banger Games was an easy decision; I love the idea of leveraging activity across different games empowering users to monetize their gaming experiences.”
The initiative is intended to be a community-led endeavor in which each individual’s voice is valued. A rigorous ticket size limit was enforced to prevent investors from dominating and having the bulk of the influence.
Smart contracts will be used to implement automatic SMART Tournaments on the platform. Closed beta testing for this project has already begun on the Counter-Strike: Global Offensive platform.
The project will include elements such as Battle Passes, in-game achievements, and P2P cloud gaming, which will allow gamers to share underutilized processing power.
Banger Games collaborated with IBM, Chainlink, and Polygon on the project’s technical integrations. The creation of the platform’s anti-cheat client, in close coordination with IBM, is one of the projects within this partnership.
NFTs, Banger Coins, and other prizes provided by well-known brands and influencers will be awarded to players. Furthermore, publishers can reap significant benefits, such as an SDK that enables non-blockchain games to be connected to the Banger Games system. Access to new monetization options, community funding, and investment opportunities are among the other advantages.