Circle of Games (COG), a Web3 multi-gaming app, has secured US$1 million in equity capital from Nazara Technologies and The Hashgraph Association. Founded by experts in the gaming and tech space, COG develops casual mobile games with blockchain technology.
COG intends to use this funding to fast-track its go-to-market strategy, improve platform capabilities, and widen its international presence in the US, EU, Middle East & Africa, and Asia in 2024. With over 250,000 registered users, the platform plans to expand its gaming portfolio from six to 10 games by Q4 2024. Through this expansion, it aims to target millions of gamers in the global casual and hyper-casual gaming community.
Nazara Technologies is a diversified gaming and sports media platform. The Hashgraph Association is an independent organisation that builds an ecosystem for startups, enterprises, and government institutions around the world, leveraging the capabilities of Hedera Hashgraph to design and develop enterprise-grade solutions and decentralised applications.
Nazara and Hedera’s involvement in this collaboration go beyond mere capital investment, said Circle of Games CEO and co-founder Rabilal Thapa. “Nazara will offer COG strategic guidance, support and access to its extensive network to help the company grow, and Hedera will provide COG access to its vast collections of games, ecosystems, substantial users and cutting-edge technology,” he said.
The Hashgraph Association president Kamal Youssef said, “We are pleased to further empower the global Web3 gaming industry through our co-investment with Nazara Technologies in Circle of Games – the leading Web3 multi-gaming app aiming to onboard the next billion users onto the Hedera network.”
Nazara Technologies recently pledged US$100 million to invest in successful and innovative brands and IPs with cutting-edge technology in the web3, Virtual Reality, and AIspace. With a presence in India, the US and other global markets, the company owns gaming and esports brands like Nodwin Gaming, Sportskeeda and Pro Football Network, and gaming products like Kiddopia and Animal Jam.