Circle of Games (COG), a Web3 multi-gaming platform, has 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 non-profit organisation headquartered in Switzerland.
Nazara is the only listed gaming company in the country with a presence across eSports, sports media, gaming studios, and adtech. The company recently pledged $100 million to invest in successful and innovative brands and IPs with cutting-edge technology in the web3, virtual reality, and AI spaces.
COG intends to use this funding to fast-track its go-to-market strategy, improve platform capabilities, and widen its international presence in the US, EU, Middle East, Africa, and Asia in 2024.
With over 250,000 registered users, COG plans to expand its gaming portfolio from the current six games to over ten games by Q4 2024. Through this expansion, COG aims to target millions of gamers in the global casual and hyper-casual gaming communities.
Founded by veterans in the gaming and tech space, COG develops casual and skilled-based games on the blockchain with play-to-earn reward mechanics.
Rabilal Thapa, CEO and Co-Founder of Circle of Games, said, “This collaboration goes beyond mere capital investment; Nazara will offer strategic guidance, support, and access to its extensive network to help the company grow, and Hedera will provide COG access to their vast collections of games, ecosystems, and substantial users and their cutting-edge technology.”
This partnership will also unlock many possibilities for COG to internationally leverage these resources through its Distribution Infrastructure Network (DIN). The DIN is a critical facet of COG’s multi-gaming platform, designed to globalize the distribution and monetization of gaming content effectively.
