The $10 million investment round from Huobi, Mirana and other VCs values Game Space at $100 million.
On June 25, the GameFi-as-a-service (Gaas) platform Game Space announced it received more than $10 million and a $100 million valuation. Huobi Ventures and Mirana Ventures confirmed their participation in the investment round.
Game Space offers a full spectrum of technical and business model support for traditional games to enter the Web3 and GameFi era, reducing time and capital costs of on-chain game development.
Huobi Ventures said the investment would expand Huobi’s business in GameFi.
“We believe that Game Space will play an important role in the Web3 world. In the future, Huobi will work closely with the Game Space team to better support the development of the entire GameFi ecosystem,” said a Huobi representative.
Previously, Game Space announced it received millions in financing from leading venture capital (VC) funds, listed gaming companies and leading exchanges. It launched its first GameFi project, Merge Bird, on May 10, drawing more than 15,000 players in one week.
David, partner at Mirana Ventures, said Game Space could help manufacturers develop business applications and reduce the GameFi entry threshold. Through the investment, both parties can help traditional gaming companies transition to Web3 and further develop ongoing blockchain ecosystems.
Michael Cameron, CEO of Game Space, said several traditional gaming companies want to participate in the metaverse and growing GameFi industry. However, a lack of blockchain prowess stymies them. Game Space provides a full-featured SDK to simplify complex on-chain development in a few lines of code to deploy and go live within one day.
In a live broadcast by Game Space and Huobi on May 24, Cameron said the platform’s first game demo Merge Bird took only seven days to go on-chain. The broadcast was watched by more than 10,000 people.
Game Space recently launched 3,200 Bird mystery box NFTs on the Bybit NFT marketplace for Merge Bird gameplay and Game Space NFT marketplace- and Bybit NFT exchange-trading. Users can merge the bird-themed NFTs and create in-game profile pictures.
Supporting multichain deployment is a major feature of Game Space. The first obstacle of all games entering Web3 is often deciding which chain to deploy on — e.g., the popular, widely accepted Ethereum network or a new public chain with better performance.
Game Space currently supports BNB Chain, Ethereum, Heco, Polygon, Flow, Solana, and more. With Game Space’s multichain deployment, gaming companies can conquer “chain-phobia” and simultaneously deploy games on multiple public chains.
The full-featured NFT market is a GameFi standard, and Game Space provides a marketplace with more than 160,000 NFTs accumulated and embedded in-game for users to transact NFTs without marketplace-jumping or third-party services. Game Space provides NFT-management functions such as mystery boxes, airdrops and auctions in its admin panel and permits in-game-NFT presales.
“We are excited about the many triple-A-level gaming titles that will be launched in the second half of the year. At present, dozens of games are being tested and are integrating GaaS services provided by Game Space. Next, we will work with more large, medium and small game companies,” said Cameron.