soul bound Raises $4 million in funding for its Web3 social gaming ecosystem.
In an interview with GamesBeat, Soulbound co-founder Casey Grooms mentioned that the corporate’s newest spherical of financing ended within the second quarter of 2024, with participation from main gaming and blockchain communities.
Thus far, the corporate’s traders embody Blocklords CEO David Johansson, iAngels, Animoca Manufacturers, Large Mind Holdings, NGC Ventures, Panony, Delta Blockchain Fund, and others.
The funding will gasoline Puerto Rico-based Soulbound’s efforts by constructing gaming partnerships, growing social interactions, and increasing streaming bounties and social missions. Since its founding, Soulbound’s group has tripled in measurement and contains consultants from engineering, enterprise improvement, and group constructing.
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The group is at the moment implementing Twitch reside streaming integration for the Soulbound co-op recreation and continues to enhance the consumer expertise. Soulbound’s TGE is predicted to happen within the second half of 2024.
The co-founders have a background in cellular gaming, consumer acquisition, and conventional gaming. The platform’s mission is to “empower a brand new creator financial system” and goals to offer a brand new means for creators within the gaming discipline to make a residing.
Grooms mentioned they deserted the DAO mannequin (together with Saga) to rebuild a startup that might function extra effectively. They began with a platform known as Popdrip, which focuses on NFT (non-fungible token) sticker interplay and publishing social content material.
However Grooms mentioned the work developed into Soulbound as the sport’s mission grew. Launched in March and April, the platform has grown to include streaming and bounty packages. They’ve seen continued progress over the previous few months.
Soulbound says it is able to carry the following technology of gamers, streamers and creators to eb3 video games. Customers can earn non-transferable DRIP tokens by collaborating in Soulbound and co-op play, displaying their favourite gaming achievements tied to their distinctive gaming id and displaying them of their reside streams.
The brand new consumer interface and branding will go reside this month, with recreation streaming on the core. That is the preferred characteristic amongst viewers, so the brand new interface makes streaming an integral part. They’re massive supporters of the StreamFi motion and see Soulbound streaming as a bridge between web2 and web3 gaming.
It acts as a cross-platform between Twitch and Steam, the place customers can showcase their achievements and in addition has a social interplay part. These interactions are captured in a “slapping” mechanism. Artists can add their stickers to the sticker market, which is a superb new income stream for them, Grooms mentioned.
Gameplay movies, Twitch clips, and group “destruction” interactions (the place customers can place stickers instantly on different folks’s posts) are additionally redefining social gaming for Soulbound customers. Streamers and creators could have entry to new income channels, together with streamer bounties and a sticker marketplace for artists and collectors.
Some of the thrilling options Soulbound will launch is a reside betting mechanic that can enable customers to guess whether or not a streamer will do one thing in-game (like a sure transfer) or do one thing on-air (like sneeze). It is like Polymarket meets Twitch.
By way of collaboration, Soulbound companions with Web3 and Web2 video games to launch activations, utilizing bounties as rewards for streamers or content material creators. They’ve heard from platform customers that this can be a welcome addition to the gaming house as there are not any complicated contracts, simply direct funds.
Sport studios additionally admire fast entry to UGC generated by bounty packages. Grooms mentioned Soulbound is their new place to domesticate group and encourage interplay.
To date, gamers have slapped greater than 20,000 stickers within the face. The Soulbound platform goes past players and enters the B2B realm. Sport studios use Soulbound to accumulate and interact with customers by data-driven profiles and user-generated content material to launch streaming bounty swimming pools, featured missions, and focused promotions.
The corporate is at the moment launching two new video games on its platform each week. Along with Shrapnel and Echelon, they hosted reside activations that attracted over 200 gamers to compete in aggressive tournaments and streamed for over 10,000 minutes.
“Video games are not a stand-alone expertise,” Soulbound CEO AI Mansbridge mentioned in an announcement. “Sport studios, players, and streamers need to attain new audiences. Soulbound is the gateway to conventional players, streamers, and recreation studios. A bridge to the huge blockchain gaming house.
“Players, streamers, artists and builders are fed up with the established order,” Grooms mentioned. “Soulbound is constructing a group platform that subverts conventional social interplay fashions. With the help of traders, we are going to present the primary avant-garde social gaming expertise.
Earlier traders embody Animoca Manufacturers and Large Mind Holdings.
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