Souq raises $3.3M to manage players’ Web3 game assets
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Souq G-Commerce announced it raised a $3.3 million pre-seed funding round as well as the beta test availability of its portfolio manager for Web3 game assets.
The funding will be used to further expand Souq’s flagship product for managing and tracking blockchain game assets, supporting players and games across all major blockchains.
The round includes participation from Kickstart, IVC, Operate, Moon Holdings, Ellipti Ventures, Perpetual Value Partners, Himanshu Sahay & Partners, Sterling VC, Evernew Capital, BBQ Capital, Mike del Balso, Chris Chang, BlockØ, Aleph One, Gautam Shah, and Miko Matsumura.
Today, managing and tracking game assets is challenging, as assets exist across a variety of games, wallets, and blockchains. Structured information about asset value and game economy/community health is non-existent. Souq onboards players in less than 30 seconds, and allows them to track and manage their portfolio across any blockchain or wallet, the company said.
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“We exist to help players become owners of the games they love and share in the upside of these new virtual economies,” said Souq CEO JonPaul Vega, in a statement. “We are at the start of a paradigm shift in the largest global category of entertainment: gaming. Players will be treated as stakeholders of the games they play, enabled by property rights enforced through blockchain technology. ”
Souq is creating the technology to discover and monitor a
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