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GFAL secures $3.2 million in seed funding for expansion of Web3 gaming ventures

Web3 gaming startup GFAL (Games for a Living) has raised $3.2 million in seed funding, adding to the $4.4 million already secured through token pre-sales last year. This investment will fuel the company’s expansion and accelerate development of new gaming projects.

GFAL is fusing creativity with high-tech innovations, from AI to Web3, crafting games that inspire, captivate, and resonate across generations, showcasing a commitment to limitless fun and immersive gameplay.

GFAL Gets Backing from High-Profile Investors

GFAL seed funding round saw participation from high-profile investors including Supercell Ltd, and venture capitalist Mitch Lasky, enhancing GFAL’s financial foundations built upon a notable $4.4 million from token pre-sales last year.

The latest funding round also included contributions from other notable investors like Heinrich Zetlmayer, former co-managing director of esports giant ESL, Bonduc Bioscience SL, BCNBCNLVC, and David Fernandez, CEO of Sandsoft.

These investors join a robust roster of existing backers including Bonsai Partners, Nekko Consulting, and Inveready, promising a strong support network for GFAL’s ambitious projects in the Web3 arena.

GFAL boasts veterans from major firms

Founded by veterans from industry giants such as King Entertainment, Activision Blizzard, Electronic Arts, Netflix, and Digital Chocolate, GFAL is carving out a niche in the evolving gaming landscape with its commitment to pioneering new game genres and business models.

The company’s proprietary token, $GFAL, has reached a fully diluted valuation of nearly $255 million following one of the most successful token launches in 2023.

Promising Game Development

This influx of capital is earmarked for scaling GFAL’s operations and expediting the production timeline of key projects. Among these is Elemental Raiders, a mobile game that launched softly in March 2023 and has been gradually building a dedicated player base.

Ilkka Paananen, CEO of Supercell, which is renowned for hits like Clash of Clans, commented on the funding, noting the personal connection and previous collaborations with GFAL’s team members.

“I’ve had the pleasure of working together with the team earlier in my career. We are excited to be part of their journey and see all the great things they’ll achieve,” Paananen said.

Mitch Lasky, who brings his experience as a partner at Benchmark and a seasoned gaming executive, praised GFAL’s innovative approach. “I’ve been very impressed with the GFAL team’s design-centered approach to Web3 gaming, and I am delighted to join my friends Trip Hawkins and Ilkka Paananen in this financing round to support Elemental Raiders and other titles,” Lasky expressed.

“Working on a project alongside Trip and Ilkka, with whom I shared many thrilling and successful years at Digital Chocolate, is a dream come true, and I can’t wait to show the world the high caliber of games we are building,” said Manel Sort, CEO of GFAL.

Trip Hawkins, Co-founder and Chief Strategy Officer of GFAL, acknowledged the significant growth and potential of the firm in the past year.

“I have incredible respect for Ilkka, Mitch, Heinrich and our team, and this investment proudly gives us a clear imprimatur. We are excited about the coming year and have the resources to deliver and continue our growth,” Hawkins stated.

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