Crypto.com Announced It Is Backing Arcade in the GameFi Industry

March 7, 2022 World Blockchain

Crypto.com and Arcade announced a strategic partnership. Crypto.com will act as the lead backer for Arcade. Play-to-earn crypto games or GameFi for short are becoming very popular.

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In traditional play-to-earn games, individuals win rewards in the form of the platform’s native cryptocurrency or NFTs that may be exchanged with other players. Although it is not related to Arcade, Axie Infinity is among the most popular play-to-earn games in the crypto world.

Josh Poole, Arcade CEO said, “Having support from Crypto.com Capital as the lead backer is a big deal for the future of GameFi. As one of the world’s leading exchanges and drivers for crypto adoption, they educate newcomers into the crypto industry every day.”

Bobby Bao, MD of Crypto.com said, “Arcade is bringing an entirely new perspective to play-to-earn gaming by allowing anyone to access games without even needing to play or own assets directly. The company is proud to back this innovative project by leading Arcade’s funding round.”