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Recreation writer Legendary Video games has secured $37 million in Sequence C1 funding, with plans to launch a brand new market and pursue different revenue-generating initiatives. With this funding, Legendary will proceed to carry its unicorn standing, with a valuation of over $1 billion.
“Our focus is optimizing our enterprise to get to profitability by 12 months’s finish, and the funds will primarily be utilized in our efforts to realize that,” John Linden, co-founder and CEO of Legendary Video games, instructed Cointelegraph.
The spherical was led by Scytale Digital with participation from ARK Make investments, Animoca Manufacturers, MoonPay, Proof VC and Stanford Athletics, alongside earlier buyers Andreessen Horowitz, WestCap, Gaingels, Signum Development and Struck Capital. Legendary expects a further $20 million–$30 million increase within the coming months, when the complete spherical is anticipated to shut.
The writer plans to launch its new recreation, Nitro Nationwide World Tour, in a couple of months, with presales of nonfungible tokens (NFTs) ongoing since February. Moreover, the funds will probably be used to develop an in-game market for its different title NFL Rivals, which lately hit over 1 million downloads.
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“Nitro Nation World Tour would be the third recreation in our portfolio and is slated to be launched throughout the subsequent few months. We have now a number of video games nonetheless in improvement that we’ve but to announce,” Linden commented.
Legendary lately introduced the migration of the Legendary Chain from the Ethereum blockchain to the Polkadot ecosystem, saying Ethereum’s sluggish transaction speeds and excessive transaction prices led to the choice. “What this transfer actually comes all the way down to is that Ethereum merely is not optimum or very best, given the rising wants of our platform. […] We wanted a blockchain accomplice that’s ready to scale with us,” the Legendary CEO defined.
With $29 million in gross sales over the previous 30 days, Legendary is likely one of the prime blockchains by NFT sale quantity. The brand new fund is an extension of prior capital raises, together with $225 million secured in two rounds in 2021.
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