Gameplay Galaxy Secures $11.17 Million in Seed Extension Round

Gameplay Galaxy, a web3 game development studio founded by the creators of the Trial Xtreme series—a popular bike racing game franchise with over 300 million downloads—has raised $11.17 million in a seed extension round.

Blockchain Capital and Merit Circle co-led the round, which was announced by Gameplay Galaxy on Tuesday. Several other anonymous investors also participated, according to Gameplay Galaxy founder and CEO Doron Kagan.

Gameplay Galaxy began fundraising for this extension in May and concluded last month. The round was structured as an equity round with token warrants, valuing the firm at $71 million.

With this round, Gameplay Galaxy's total funding has reached $24 million, following a previous $12.8 million seed round in September 2022.

What is Gameplay Galaxy?

Founded by Kagan in 2022, Gameplay Galaxy is a web3 game development studio leveraging the success of his prior venture, Deemedya. Established in 2010, Deemedya published several successful free-to-play web2 mobile games, including the Trial Xtreme series, Rope Escape series, Game of Winds, and Magic Touch. These titles collectively claim over 300 million downloads and have generated tens of millions in revenue.

Kagan, who led Deemedya until 2022, is now focused on Gameplay Galaxy. “After 20 years in the free-to-play industry and two successful exits, we viewed blockchain as a natural evolution for the gaming sector,” Kagan stated. “With conviction, we adapted our successful Trial Xtreme brand into a web3 ecosystem for extreme sports games.”

Gameplay Galaxy is currently working on its first web3 game, Trial Xtreme Freedom. Kagan explained that the studio integrates web3 features into gameplay while steering clear of paywalls and knowledge barriers. “Players are introduced to web3 elements as optional features, allowing them to engage at their own pace, enhancing their connection to the game while adding value to their gaming experience,” he noted.

Key web3 features of Trial Xtreme Freedom include track ownership, allowing users to host their own tournaments and events. Moreover, players can improve and own bikes, and earn tokens through in-game experiences.

The game is currently in the tech soft launch phase, with a full launch scheduled for the first quarter of next year. Kagan also mentioned that token issuance would align with the full launch. “We are working in stages, dependent on app store approval and the KPIs we're refining during the soft launch phases. Our focus is on delivering the best possible experience for players and ensuring compliance with app store guidelines before the worldwide release,” Kagan concluded.

Gameplay Galaxy's Plans

The California-based studio currently employs 53 remote workers and has 10 openings as it gears up for its launch and expansion.

“In the coming months, as we extend our reach into more countries and incorporate additional web3 features, we'll introduce a new model that allows major brands and key opinion leaders (KOLs) to become stakeholders in our project,” Kagan revealed.

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