Abu Dhabi-based Web3 gaming start-up GAM3S.GG has raised $2 million in a seed funding round as the company plans to expand.
The round was led by investment firm Mechanism Capital with the participation of other major venture and angel investors, including Polygon, Double Peak, ArkStream Capital, LD Capital, ROK Capital, Hyperithm, Snackclub, Emurgo Ventures, Eden Ventures and Mix Marvel Ventures.
Launched last November, the start-up – formerly known as Polkastarter Gaming – offers curated Web3 gaming content, with more than 200 games listed across 15 chains, and over 60,000 registered gamers.
“The gaming industry is at a crossroads … while Web3 offers new exciting possibilities, the lack of quality content and a singular destination for all your Web3 gaming needs has left many gamers lost,” said Omar Ghanem, co-founder and chief executive of GAM3S.GG.
Web3 has been described as a new kind of internet service based around decentralised applications, blockchain technologies and token-based economics.
GAM3S.GG said it is building the hub to enable newcomers and professional gamers to explore new frontiers and experiences within one single Web3 gaming superapp.
It is also a member of AD Gaming, the entity responsible for developing the gaming and e-sports industry in Abu Dhabi.
In December, the platform hosted the first GAM3 Awards. Attracting more than 140,000 unique viewers casting 250,000 votes, the streamed event was and one of the largest Web3 game award shows.
“Abu Dhabi has become a regional hub for Web3 gaming,” Sultan Al Riyami, head of gaming and eSports at AD Gaming, said.
“The comprehensive Web3 gaming ecosystem that they [GAM3S.GG] are building will stand them in good stead within a sector so intrinsically focused on community building and engagement, so we look forward to seeing their accelerated growth in Abu Dhabi.”
Gaming has become big business globally, gaining traction during the Covid-19 pandemic in 2020, with new technology providing both an opportunity to reach a wider audience and develop new titles to cater to consumer demand.
Saudi Arabia and the UAE – the Arab world’s biggest economies – are at the forefront of the gaming industry in the Middle East, with their governments recognising the massive potential the growing market possesses, Boston Consulting Group said in its latest Game Changer report.
GAM3S.GG said it intends to build advanced features to eliminate barriers to entry for blockchain games, including social logins, player-owned item management, progression rewards, in-game progress tracking, as well as directly playing Web3 games on the platform.
“We are not just curating, we are spotlighting the top games, setting the gold standard, and allowing gamers to engage with games in unprecedented ways as we aim to become the definitive home of Web3 gaming,” Mr Ghanem said.
