In addition to the financing, C2X names Hashed and Terra as advisors
LOS ANGELES, March 18, 2022 /PRNewswire/ — MetaMagnet Ltd., operator of the universal blockchain gaming platform built on the Terra blockchain, C2X (“the Platform”), today announced the closing of a $25 million funding round led by FTX Ventures, Jump Crypto and Animoca Brands. This round was conducted as a private token sale, at a $500 million valuation to the platform. C2X also disclosed today that an Initial Exchange Offering (IEO) was conducted today, March 18, 2022, for the Platform’s native token, C2X. The public listing of the C2X token will be announced at a later date.
The private token sale saw participation from a marque list of investors including FTX Ventures, Jump Crypto, Animoca Brands, Hashed, Terra, Transcend Fund, Galaxy Interactive, Skybound, Blockchain Coinvestors, DeFiance Capital, Play Ventures, Crypto.com, Infinity Ventures Crypto, Unanimous Capital, Bowei, Xsolla, Huobi Ventures, Goal Ventures, Concept Art House and Agnitio Capital. These investors were selected given their prominence and history of leading ventures in their respective industries, including Gaming, Crypto, DeFi, Blockchain and entertainment.
C2X is a global leader in the development of web3 gaming architecture, advancing the industry forward through the use of decentralized finance. The Platform is built on Terra, an application-specific blockchain built on the Cosmos SDK and Tendermint consensus, which ensures that all assets and data needed will remain secure, transparent and tamper-proof. The Terra blockchain enables developers to build on a robust ecosystem that rewards both users and creators. With the support of its partners, Com2uS, Com2uS Holdings and Terraform Labs, C2X will continue to be a pioneer in the web3 gaming industry, while also providing builders on the platform access to additional tooling needed to create industry-leading titles.
Paul Kim, Director of MetaMagnet…
