GamerGains, the First-Ever Play-and-Earn Platform for PC & Console Gamers, Gains $5.8 Million Led By Cadenza Ventures
GamerGains, the First-Ever Play-and-Earn Platform for PC & Console Gamers
Cadenza Ventures led a $5.8 million seed round for GamerGains, with participation from FTX, Winklevoss Capital, BlockFi, Tiger Global, Alumni Ventures, Lightbank, and others.
For playing existing AAA titles like Elden Ring, Grand Theft Auto V, Apex Legends, and Destiny 2, GamerGains’ browser-based application will reward gamers with their Solana-based cryptocurrency and SPL utility token $GAMER. Users may link their Steam, Xbox, or PlayStation accounts to the platform to earn rewards, complete “challenges,” and participate in “wager contests” or even esports events.
There will also be a DeFi component with gamers able to earn $GAMER as interest by locking up their $GAMER tokens.
“Our vision for GamerGains is to combine our passion for traditional PC and console gaming with Web3 innovations, allowing gamers at all levels to play and earn through fair, transparent challenges, contests and tournaments,” said Jon Brovda, Co-Founder and CEO of GamerGains. “GamerGains is designed to be a crypto-enhanced home for traditional gamers – with ongoing support for their favorite consoles and titles – and we are thrilled to have an incredible group of investors supporting that vision.”
Jacob Brovda, a product designer at DraftKings, and Kane Jeong, a software engineer at productivity company ClickUp, are the other GamerGains co-founders.
While most blockchain gaming initiatives have been limited to web browsers and PCs, this platform will allow console players to receive rewards later this year. The platform also wants to create iOS and Android apps for individuals who want to track their prizes on the go.
“GamerGains possesses key elements we look for in an investment: a large addressable market, well-defined and compelling products or services with a clear competitive advantage, and an outstanding team,” said Max Shapiro, Co-Founder and Managing Partner of Cadenza Ventures. “We were early investors in BlockFi, where Jon was a foundational member of the team and contributed to the spectacular growth of the business. That experience, combined with the team’s excitement and motivation, will revolutionize the gaming space.”
“The combination of gaming and Web3 presents exciting opportunities, and GamerGains has demonstrated the clarity to focus on the most dedicated gaming enthusiasts with deep and durable communities,” said Kooshul Jhaveri, Investor, Tiger Global. “The team’s understanding that traditional gaming is at the heart of this evolving market, and yet remains underserved for the future, sets them apart.”
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