Web3 continues to gather momentum as the technology authentically finds its way into more mass market use cases, one of the most exciting being games. With many new development studios on the rise and existing studios pivoting towards blockchain and decentralized technology, we are simultaneously seeing a shift in consumer sentiment toward the benefits of player owned games.
Today, the C2X team shared their success in raising $25 million in a funding round conducted as a private token sale, at a $500 million valuation. As part of a select group of investors with a history in gaming, entertainment, Crypto, DeFi and Blockchain, the Transcend Fund team is excited to be a part of this incredible announcement.
C2X’s goal of becoming an inclusive gaming platform, where C2X gamers and game developers can create value together, embodies everything we aspire to see from web3 gaming. Guided by Com2uS and Com2uS Holdings, a global transmedia, technology leader, C2X has access to a broad and deep network of developers, strategic planners, and creatives with deep industry knowledge.
The promise is real. By integrating into the platform using the C2X SDK, developers quickly gain access to a suite of Web3 services and Terra Mainnet, a globally renowned and stable blockchain. With more than ten new, exciting titles coming to the platform in 2022, including Chromatic Souls: AFK Raid, Summoners War: Chronicles, Crypto Superstars, Dear, Ella, Golf Star, Kritika Online and more, C2X is well-positioned to usher in the next big wave of blockchain gaming.
Congratulations to the C2X team on your successful private funding round! My partners and I here at Transcend are excited to see what we believe will be a long and storied history for the CX2 platform.
About Transcend Fund
The Transcend Fund is an early stage venture capital firm that partners with some of the most ambitious and talented founders in the game industry to collaboratively build the future of digital entertainment.
Founded in San Francisco by gaming veterans, Transcend Fund operates remotely with team members around the world. Our portfolio features a range of high growth digital entertainment companies including thatgamecompany, Possibility Space, Polygon, Singularity 6, Laguna Games, Gardens, IndiGG, Big Run, C2X, Nifty Games, Treehouse Games, Stress Level Zero, Maestro, Fun Country, Arcadia, Trioscope, Bunch, Heroic Story, Kings of Games, Spatial, Goss, and several additional exciting but unannounced new ventures.
About Andrew Sheppard
Andrew is a strategist and seasoned executive focused on helping founders grow.
Andrew has over 20 years of experience building, managing and advising multi-billion dollar consumer businesses. Past employers include EA, Gamespot, Kabam and GREE. Andrew serves on the Board of Directors for Nexters and Rakuten Games. He has direct experience working in online media, social media game services, subscriptions, free-to-play, console games, online/PC games, mobile games and apps. His current focus areas include cross-platform games, Web3 and digital identities and communities.
Andrew is excited to put capital to work in service of companies that are passionate about reinventing the game.