Circle of Games Raises $1 Million to Fuel Global Web3 Gaming Expansion

Circle of Games (COG), a leading Web3 multi-gaming platform, has secured $1 million in equity funding from strategic investors Nazara Technologies FZ LLC and The Hashgraph Association. This investment will enable COG to accelerate its market penetration, enhance platform capabilities, and expand its global presence. COG plans to leverage its strategic partnerships with various Web3 projects and ecosystems to target millions of gamers in the casual and hyper-casual gaming community.

Circle of Games Secures $1 Million Funding to Accelerate Global Web3 Gaming Initiatives

Circle of Games (COG), a leading Web3 multi-gaming platform, has successfully raised $1 million in equity funding from strategic investors Nazara Technologies FZ LLC, a wholly-owned subsidiary of Nazara Technologies Limited, and The Hashgraph Association, a prominent Swiss-based organization driving global digital enablement for Hedera. Hedera is widely recognized as the world's foremost distributed ledger technology.

Nazara, India's largest and publicly traded gaming company, has a multifaceted presence across eSports, Sports Media, Gaming studios, and Adtech. Notably, the company recently committed USD 100 million to invest in cutting-edge technology and innovative brands and IPs in the Web3, Virtual Reality, and AI space.

With this influx of funding, COG aims to expedite its go-to-market strategy, enhance platform capabilities, and expand its global footprint in key regions such as the US, EU, Middle East & Africa, and Asia by 2024. Boasting over 250,000 registered users, COG plans to bolster its gaming portfolio from the current six games to over ten games by Q4 2024. This ambitious expansion targets millions of gamers within the global casual and hyper-casual gaming community.

Beyond the financial investment, COG remains steadfast in leveraging strategic partnerships and collaborations with prominent Web3 projects and ecosystems worldwide. Notable alliances include Chingari, Solana, Foundership, KGeN/IndiGGMetarun, TheFishVerse, NinjaGames, and various Gaming Guilds/DAOs. These partnerships provide COG with unparalleled access to a vast gaming community spanning over 500 million individuals in 50+ countries.

COG has strategically implemented multi-chain technology, with Hedera serving as the primary mainnet for on-chain transactions. This empowers players with complete ownership and control over their in-game assets and tokens. COG anticipates the launch of its native $COG Token by the end of Q2, 2024, promising an enhanced and innovative user experience.

The foundation of COG lies in the expertise of veterans within the gaming and technology industries, specializing in the development of blockchain-based games that seamlessly integrate play-to-earn reward mechanics.

Rabilal Thapa, CEO and Co-Founder of Circle of Games, expressed his enthusiasm for the partnership: "This strategic alliance signifies a momentous endorsement of COG's vision and potential. It positions the company to capitalize on the boundless possibilities of Web3 gaming innovations on a global scale. This collaboration transcends mere financial investment; Nazara's strategic guidance, support, and extensive network will be invaluable to COG's growth trajectory, while Hedera will provide access to its formidable ecosystem of games, users, and cutting-edge technology. I extend my heartfelt gratitude to Nazara, Kamal Youssefi, President of The Hashgraph Association, Stefan Deiss, Co-Founder & CEO of The Hashgraph Group, and Anindya Roychowdhury, Head of Ventures of THG, whose long-standing relationship with Nazara spans over 25 years, for their unwavering support in fostering this pivotal partnership."

Kamal Youssefi, President of The Hashgraph Association, stated: "We are honored to bolster the global Web3 gaming industry through our co-investment with Nazara Technologies in Circle of Games. This partnership aims to seamlessly integrate the next billion users into the Hedera network, solidifying its position as the leading Web3 multi-gaming app."

This partnership will unlock a plethora of opportunities for COG to leverage its Distribution Infrastructure Network (DIN) on an international scale. The DIN serves as a cornerstone of COG's multi-gaming platform, meticulously designed to optimize the global distribution and monetization of gaming content.