By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
EveryTechEverEveryTechEver
  • News
    NewsShow More
    Power Mac Center Greenbelt 3 Apple Premium Partner store opening
    5 Min Read
    It’s ‘Together We Create’ on upcoming COMPUTEX Taipei 2023
    6 Min Read
    DoE awards contracts to SunAsia and Blueleaf Energy
    6 Min Read
    HONOR is now in Marilao and Marikina
    4 Min Read
    HONOR Opens First Experience Store in Cebu
    3 Min Read
  • Tech
    • Mobile
    • Computing
    • Auto
    • Cybersecurity
    • FinTech
  • Gaming
    GamingShow More
    Epson launches Smart Gaming Projector EH-TW6250
    5 Min Read
    Axgon PH is VP Choice Awards’ PC Accessory of the Year
    2 Min Read
    Acer is still the Leader of Notebook sales in PH
    4 Min Read
    Predator Gaming partners with Blacklist International
    2 Min Read
    Predator x Blacklist Dota 2 Team is Here
    4 Min Read
  • Lifestyle
    • Entertainment
    • Shopping
    • Appliances
    • Wellness
  • How-To
  • Reviews
    ReviewsShow More
    Samsung Galaxy A54 5G Review: The best A-series yet
    ASUS Zenbook 17 Fold OLED review: The future of PCs
    Xiaomi Redmi 12C Review: Budget smart-choice lifestyle
    honor x7a
    HONOR X7a Review: Your Budget Swiss Army Knife
    HONOR X8a Review: An affordable Camera Centric Phone
  • About Us
    • Contact Us
Search
  • Contact
  • Blog
  • Complaint
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: MetaverseGo Raises US$4.2M led by Galaxy Interactive
Share
Sign In
Notification Show More
Aa
EveryTechEverEveryTechEver
Aa
  • News
  • Tech
  • Gaming
  • Lifestyle
  • How-To
  • Reviews
  • About Us
Search
  • News
  • Tech
    • Mobile
    • Computing
    • Auto
    • Cybersecurity
    • FinTech
  • Gaming
  • Lifestyle
    • Entertainment
    • Shopping
    • Appliances
    • Wellness
  • How-To
  • Reviews
  • About Us
    • Contact Us
Have an existing account? Sign In
Follow US
  • Contact
  • Blog
  • Complaint
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
EveryTechEver > Blog > Gaming > MetaverseGo Raises US$4.2M led by Galaxy Interactive
Gaming

MetaverseGo Raises US$4.2M led by Galaxy Interactive

Team EveryTechEver
Last updated: 2022/08/23 at 10:16 PM
Team EveryTechEver
Share
SHARE

MetaverseGo, a Web3 mobile gaming platform that onboards new players via a mobile phone login, announced it has raised US$4.2 million in a seed round led by Galaxy Interactive with participation from Delphi Digital, Dragonfly Capital, Mechanism Capital, Infinity Ventures Crypto (IVC), Shima Capital, Com2uS, Akatsuki, Ascensive Assets, BitScale Capital, Yield Guild Games (YGG), BreederDAO, Mentha Partners and Emfarsis. The funding will be used for ​​software development, securing partnerships with telecommunication providers, and strategic hires. 

Over the past year, Web3 gaming has seen remarkable adoption with gaming apps now driving 52% of all blockchain activity. However, the long, complex and risk-laden processes involved with onboarding new users to blockchain-based platforms remain a barrier for would-be players.

To accelerate adoption with mainstream markets and non-crypto natives, MetaverseGo provides access to Web3 games without the usual prerequisite of understanding how to use cryptocurrencies. Using only their mobile phone number, and upon validation by a verification code, users can explore the MetaverseGo platform to discover and play a range of NFT games while earning MetaverseGo credits that can be spent on mobile data, utility bills, shopping vouchers, and more.

“Crypto has always been hard, and blockchain games are even harder since there are significant upfront costs to buy the NFTs needed to play. Play-to-earn only took off in 2021 after scholarships popularized the idea of renting those NFTs, so NFT ownership wasn’t required to get started. Since then, we’ve seen rapid adoption worldwide, but as long as crypto onboarding is as arduous as it is today, that growth can only go so far. MetaverseGo is solving this by making Web3 games accessible via a technology everyone knows how to use — a mobile phone number,”

said Ash Mandhyan, co-founder and CEO of MetaverseGo.
metaversego
ABOVE MetaverseGo CEO, Ash Mandhyan speaking to a web3 community gathering

Currently, 1.1 billion mobile games are downloaded per week, a number that is 45% higher than pre-pandemic levels according to a study by data.ai and IDC. Further, available gaming stats indicate that there are over three billion gamers across the globe, representing about a third of the world’s population. In comparison, according to a report by Crypto.com, there are only around one million people playing blockchain games on a daily basis. With blockchain gaming at such a nascent stage of development, MetaverseGo aims to accelerate growth and adoption by removing all the usual challenges associated with onboarding to cryptocurrencies.

“Digital ownership not only deployed blockchain technology at scale, but it also unlocked new gaming audiences. However, significant friction exists at the initial stages of the user experience to tap into this growth in the interactive sector. MetaverseGo helps to democratize blockchain gaming with an accessible web3 platform that simplifies the onboarding, discovery, learning, and payout processes needed to foster meaningful connections and realize commerce gains around quality content,” said Richard Kim, General Partner at Galaxy Interactive.

MetaverseGo is led by co-founders Ash Mandhyan, Jake San Diego, and JC Velasquez. CEO Ash Mandhyan has more than 15 years of digital retail experience, having held leadership positions at Lazada Philippines, Facebook, and Bytedance. 

Jake San Diego, Chief Business Development Officer of MetaverseGo, The founder of Artphorce, a creative freelancing marketplace, and he also has more than 15 years of experience in the gaming industry, including roles at Level Up! and PlayPark Games, and most recently at Globe, the Philippines’ leading telecommunications company. 

CTO JC Velasquez has 20 years of experience building software and 12 years building technology teams for high-growth startups. He is also the founder of Smartwave Studios, a Philippines-based mobile software consulting and engineering firm, as well as a co-founder of Partyphile, the largest nightlife app in Asia, and Chatbot PH, the largest chatbot developer in the Philippines.

You Might Also Like

Epson launches Smart Gaming Projector EH-TW6250

Axgon PH is VP Choice Awards’ PC Accessory of the Year

Acer is still the Leader of Notebook sales in PH

Predator Gaming partners with Blacklist International

Predator x Blacklist Dota 2 Team is Here

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
By Team EveryTechEver
Zup Techies! Team EveryTechEver is our admin account for Press Releases. You can get in touch with us at [email protected].
Previous Article Razer unveils the ultra-lightweight Deathadder V3 Pro
Next Article Fujitsu enters the local market with Ultralightweight devices
Leave a comment

Leave a Reply Cancel reply

Stay Connected

248.1k Like
69.1k Follow
134k Pin
54.3k Follow
banner banner
Create an Amazing Newspaper
Discover thousands of options, easy to customize layouts, one-click to import demo and much more.
Learn More

Latest News

Score big discounts in vivo 6.6 WOW Sulitipid and Midyear Sale
Mobile
Get the Logitech G gears biggest discounts at the Shopee 6.6 Sale
Accessories
Power Mac Center Greenbelt 3 Apple Premium Partner store opening
News
Watch out for TECNO’s iconic CAMON 20 Pro Series this 6.6!
Mobile
//

Your daily source of everything tech.

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Follow US
© 2022 EveryTechEver. Your daily source of everything tech. All Rights Reserved.
  • Privacy Policy
  • Terms of Service
  • Contact Us
Welcome Back!

Sign in to your account

Lost your password?