MatchboxDAO Raised $7.5 Million To Build A Blockchain Game Ecosystem On StarkNet

Game blockchain platform MatchboxDAO has raised $7.5 million to build core products and drive growth on StarkNet.

MatchboxDAO, a game ecosystem built on Starkware, has raised $7.5 million in its first funding round to continue to improve the world of blockchain gaming built on StarkNet (Layer-2 solution by StarkWare on Ethereum).

The funding round was backed by well-known crypto investment funds, including Starkware, Geometry Research, ReadyPlayerDAO, Neon DAO, Road Capital, Formless Gamma, and Bonfire Union.

The newly raised money will be used to develop two core MatchboxDAO products, Matchbox Spark and Matchbox Studios. Matchbox Spark serves as an incubator of game products on StarkNet, while Matchbox Studios is a development toolkit to accelerate game development in the platform ecosystem. Yonatan Ben-Shimon, CEO of the Matchbox Foundation said:

“Matchbox is on the route to building the next wave of infrastructure for the next gen of games. Composable games and Dapps that empower devs and creators as well as  hundreds of millions of users.”

A Layer-2 solution like Starkware offers fast and cheap gas-fee transactions along with improved privacy, making the platform a strong candidate for blockchain gaming development.

StarkWare is also preparing to launch technology that can process up to 60 million transactions on Ethereum with the first testing in the NFT environment, the most important material that makes up the blockchain game industry.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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