Arcade2Earn, an innovative gaming platform that rewards players for playing games, has recently received a significant investment of $4.8 million from Crypto.com Capital’s investment arm. This funding is a major milestone for the platform, which has also moved from the Solana blockchain to Ethereum and Avalanche.
The platform’s shift from Solana to Ethereum and Avalanche was a strategic decision. Despite having its roots and the majority of its application initially developed on Solana, Arcade2Earn found that Ethereum and Avalanche better met specific technical needs essential for its operations. This move is a clear indication of the company’s commitment to leveraging the best technology to enhance user experience and functionality.
The Investment Round
This funding round wasn’t just any ordinary investment affair. It attracted the attention of several key players in the crypto and blockchain arena, including Solana Ventures, Shima Capital, KuCoin Labs, and GSR. Josh Poole, the co-founder and CEO of Arcade2Earn, played a pivotal role in this year-long funding journey, which wrapped up towards the end of 2023.
Future Plans and Token Sale
Arcade2Earn isn’t just stopping at securing funding. The platform is gearing up for a public token sale of its $ARC cryptocurrency. Scheduled for February 27, this 72-hour sale on the Fjord Foundry platform is an event many are eagerly anticipating. It will release 15 million tokens, representing 1.875% of its total token supply.
Investors from the private funding round have a specific timeline to adhere to. They are subject to a six-month waiting period from the token generation event, followed by an 18-month linear vesting period. Poole emphasizes that this public sale is a unique opportunity, as future token distributions will be heavily influenced by community incentive programs.