GamePad raises $2.5 million in seed funding round led by OKX and Enjin

Crypto gaming accelerator startup GamePad has raised $2.5 million in a seed round, which puts it at a valuation of $25 million. The round was led by OKX Blockdream Ventures, and Enjin.

GamePad is a new generation startup that says that it aims to be the “Ycombinator of gamefi and metaverse projects”. The platform is built to accelerate gamefi, guilds, and metaverse projects. It features incubation, a launchpad, NFT sales, and other elements that will assist the projects it backs in their long term growth.

Oscar Franklin Tan had the following to say on Enjin’s investment:

“We’re really honored to lead the investment round for GamePad. We are already seeing that GameFi, blockchain gaming, and game NFTs without a doubt will be the biggest disrupter to the gaming industry and we are extremely excited to back a company like GamePad that taps into this booming disruptor space. GamePad’s unique solutions and first-principles thinking in solving the age-old gamer retention problem will surely bring tremendous value to projects that partner with them.”

Likewise, Dora, founder of OKX Blockdream Ventures, was also very upbeat with her company’s investment, and said:

“We are excited to meet Gamepad in this investment round to explore the growth and development of GameFi. We believe GamePad has the potential to be a game changer in the blockchain space. Their unique solutions to solve retention problems and (their) experienced team with vast connections, will surely create massive value for partnered projects. We will help GamePad to establish in-depth cooperation with more high-quality Gamefi projects in the market, and reach win-win cooperation between the two parties” 

GamePad has said that it has 10 triple-A blockchain games already on boarded to the platform, and that it has “over 15 waiting in the wings.” The platform’s native token $GPAD is due to be launched on Copper at the end of the month, and some more “top-quality investors” will be announced over the next few days by way of the GamePad blog and Twitter account.

The launchpad and NFT sales platform are built on the Ethereum blockchain, but GamePad has plans to integrate Binance Smart Chain and Solana in the near future.

Eric Su, Gamepad founder, said:

“We built Gamepad.co after thoroughly understanding the inadequacies of generic launchpads and what gamefi, play to earn and metaverse projects really need to become the next Axie Infinity. Together, with our partners – Enjin.io, Okx Blockdream fund and 20+ other valuable funds and service providers, we envision to become the decentralized Ycombinator of the blockchain powered digital experience industry.“

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.