Foundership Web3 Accelerator's portfolio Circle of Games (COG) raised a $1mn round from Nazara, with participation from The Hashgraph Association.
Circle of Games is a global multi-gaming app
on a mission to onboard users worldwide to web3 through universally enjoyed casual games played by millions of users daily. Circle of Games gives players full ownership and control over their in-game assets and tokens.
Circle of Games is Founded by veterans in the gaming space with experience in Zynga, MPL, PlaySimple, Junglee Games and more.
The funding will accelerate COG's entry into many markets
and build new capabilities so players can enjoy more games and experiences.
Nazara Technologies, India's premier gaming company, is a pioneer in the space and has diverse involvement in eSports, gaming studios, and more. This strategic partnership is a significant endorsement of COG's mission and potential to be a leader in Web3 gaming innovations.
Inc42 has a detail about the investment details:
Listed gaming giant Nazara Technologies said it has picked up 8.5% stake in Web3 gaming platform Circle of Games (COG) for $500K (about INR 4.17 Cr).
In a separate statement, Circle of Games said that the investment was part of a larger $1 Mn (about INR 8.3 Cr) funding round that also saw participation from Swiss non-profit The Hashgraph Association.
In a regulatory filing with the bourses on Wednesday (April 17), Nazara said its Dubai-based subsidiary acquired 1,273 class A1 preferred shares of COG Holdings Global Ltd, the parent of Circle of Games. Under the deal, Nazara Dubai will also receive additional 891 shares in the company as "advisory shares".
Source - https://inc42.com/buzz/nazara-picks-up-8-5-stake-in-web3-gaming-startup-circle-of-games-for-500k/
Nazara will offer strategic guidance, support and access to its extensive network to help the company grow, and Hedera will provide COG access to its vast collections of games, ecosystems, substantial users and cutting-edge technology.
Source - The Economic Times:
Circle of Games is a top world-class team. Having Circle of Games in our 0xCamp cohort program at Foundership Web3 Accelerator has been a privilege and pleasure.
COG has a 250k+ user base worldwide and is preparing to launch several games in the next two quarters.
The team has established an excellent scale worldwide while navigating the early stages of building the product, company, and community. With Nazara and Hashgraph Association investment, the COG team will be a leading player in the Web3 Casual gaming space.
The release of the $COG Token by Q2-Q3 2024 will provide players complete control over their in-game assets and tokens, transforming COG's user experience.
To learn more about Circle of Games visit:
Website | Twitter | LinkedIn | Telegram
