Fighting Blockchain Game Galaxy Fight Club Welcomes $7 Million Investment
Gamefi has been the talk of the town in crypto for some time now, and growing institutional interest suggests there is still plenty of racing to go on. Whether it’s Gemini Raising $400 Million to facilitate access to the metaverse or the Tron Foundation launch a $300 million gamefi fund, a seemingly endless river of capital is pouring into space and giving the impression that soon we will all be wearing VR headsets and spending our free time exploring, interacting and earning in immersive virtual reality- worlds.
The latest company to welcome a seven-figure investment is: Galaxy Fight Club, a MOBA game built on the Polygon blockchain. In its latest seed and private sale, the cross-IP game has raised $7 million in a round led by Animoca Brands, Sequoia Capital and Skyvision Capital, after winning investments from The Chernin Group, YGG SEA, Spartan Capital, Sfermion, PKO Investments, Infinity Ventures Crypto, Rarestone Capital and many others.
Galaxy Wars Begins
Differentiating from many of its battle-based competitors, the project seeks to emulate Nintendo’s Super Smash Bros franchise by providing a stage where players from around the world can bring their own NFTs (Cryptopunks, BAYC, etc.) to the party. bring and fight to earn rewards.
By giving NFT owners from different communities the chance to use their strange and wonderful assets on an interoperable platform, Galaxy Fight Club aims to create a sustainable ecosystem that challenges the current silo model. As the GFC team sees it, every NFT project is a Lego brick waiting to be connected with others.
The concept has clearly appealed to the industry’s venture capitalists: more than two dozen parties took part in the bootstrapping round and Jarrod Dicker, partner of The Chernin Group, sees Galaxy Fight Club as a great bet. “There are two major trends in crypto gaming, using PFP (profile picture) NFTs and making games more fun to earn. Galaxy Fight Club is a pioneer in both,” he says.
“Building on the manufacturability of large NFT projects, Galaxy Fight Club creates new value for these communities by presenting a fun way to leverage their favorite projects.”
Galaxy Fight Club not only opens the floodgates to multiple NFT collections, but also features its own platform-native Genesis Fighter avatars that generate rewards (5-15$GCOINs per day) simply by keeping them in your wallet. These native fighters caused a lot of hype when they sold last year, with the collection of 10,127 NFTs selling for nearly $10 million. This collection accounted for 40% of the platform’s total offering.
Whether players decide to go to war with a misguided Genesis fighter, an NFT from elsewhere, or an automated default fighter with basic stats, their avatar can be put to the test in PvP Deathmatches, 3v3 team tournaments and 10-person battle royales with a series prizes to be won, including $GCOIN, weapons and even ETH.
“We see tremendous potential for protocols that integrate greater utility from their NFTs, rather than just being a social status symbol,” said Skyvision Capital partner Patrick Wu. “The GFC team has a wealth of experience in understanding products and designed a simple, fun and interactive game.”
Galaxy Fight Club has already formed a number of important partnerships that can help it achieve its lofty ambitions, not least with several gamefi guilds – Perion DAO, Avocado Guild, YGG Sea and Path DAO. Now that the project has completed a bumper funding round, it seems well placed to dive into crypto’s hottest and fastest growing space.