Circle of Games Raises $1 Million to Fuel Web3 Gaming Resurgence

Web3 gaming platform Circle of Games secures $1 million funding from Nazara Technologies and The Hashgraph Association to accelerate its global expansion and platform development, signaling the revival of the Web3 gaming sector. The investment will empower Circle of Games to enhance its platform capabilities, launch new games, and establish a strong presence in key regions worldwide. With partnerships with leading Web3 projects and a registered user base exceeding 250,000, Circle of Games aims to expand its game portfolio and launch its native $COG Token by Q2 2024.

Web3 Gaming Platform Circle of Games Secures $1 Million Funding, Signaling Industry Resurgence

April 17, 2023 - Circle of Games, a groundbreaking multi-gaming platform operating within the Web3 ecosystem, has announced a significant funding milestone with a $1 million investment from renowned industry leaders Nazara Technologies and The Hashgraph Association. This strategic investment marks a resurgence in the Web3 gaming sector, solidifying Circle of Games' position as a leading force in the rapidly evolving landscape.

Nazara Technologies, a well-established gaming and entertainment company, has invested up to $500,000 through its Dubai subsidiary, acquiring a 5% stake in Circle of Games. This move reflects Nazara's commitment to fostering innovation and driving growth in the Web3 gaming space. Additionally, Nazara Dubai will receive 3.5% share capital as advisory shares.

Joining Nazara Technologies in their support of Circle of Games is The Hashgraph Association, a Swiss-based non-profit organization dedicated to promoting the adoption of the Hedera network globally. Hedera's distributed ledger technology serves as a cornerstone in the development of Circle of Games' platform, providing a robust infrastructure for the seamless integration of blockchain-based gaming experiences.

With this fresh infusion of capital, Circle of Games plans to accelerate its market penetration strategy, enhance platform functionality, and expand its global reach across key regions, including the United States, European Union, Middle East, and Africa. This expansion will be instrumental in capturing a wider audience and solidifying the company's position as a leader in the Web3 gaming industry.

Founded in 2022 by Rabilal Thapa, Rajeeb VC, and Rohit Tiwari, Circle of Games specializes in crafting casual and skilled-based games on the blockchain, seamlessly incorporating play-to-earn reward mechanisms. The company's current portfolio boasts six engaging titles, with plans to expand this offering to over 10 games by the fourth quarter of 2024, catering to the diverse needs of the global casual and hyper-casual gaming community.

Circle of Games has already amassed an impressive user base of over 250,000 registered gamers. Its strategic partnerships with prominent Web3 projects and ecosystems, such as Chingari, Solana, Foundership, KGeN/IndiGG Metarun, TheFishVerse, and Ninja Games, provide access to a vast community of over 500 million gamers across more than 50 countries. These collaborations empower Circle of Games to tap into a loyal and engaged player base, fostering growth and adoption.

Headquartered in the British Virgin Islands, Circle of Games plans to launch its native token, $COG Token, by the end of the second quarter of 2024. This token will play a crucial role in incentivizing gameplay, fostering community engagement, and driving value within the Circle of Games ecosystem.

Rabilal Thapa, CEO of Circle of Games, expressed his gratitude for the unwavering support and guidance provided by Nazara Technologies and The Hashgraph Association. He emphasized the invaluable contributions made by both organizations, acknowledging their role in shaping the company's growth trajectory and setting the stage for future success.

The investment in Circle of Games underscores the growing interest and confidence in the Web3 gaming sector. As the industry matures, platforms like Circle of Games are poised to revolutionize the gaming landscape, offering innovative experiences that empower players with ownership and financial incentives. With its robust platform, experienced team, and strategic partnerships, Circle of Games is well-positioned to capitalize on this burgeoning market opportunity and emerge as a leading player in the Web3 gaming space.