Oncade Successfully Completes a $4 Million Funding At the helm of a16z Crypto
For the purpose of advancing its community-focused Web3 game publishing platform, Oncade has successfully secured $4 million in finance, with a16z Crypto serving as the driving force behind the success.
Oncade, which is managed by gaming experts who have worked on AAA titles, has obtained $4 million from a16z Crypto in order to establish a platform for publishing games that is centered on the community. Through creative, sales-based business models, the platform intends to increase both the profits of studios and the level of user involvement.
a16z Crypto, in its capacity as the primary investor, emphasizes its dedication to the growth of Web3 gaming. Game publishing is being revolutionized by Oncade, which was established by seasoned professionals in the business. With the completion of this investment round, Oncade has strengthened its capacity to incorporate blockchain technology into games, which has the potential to influence markets for digital assets.
“The potential of community-driven gaming platforms to enhance studio revenue and user engagement through innovative models is substantial,” said a16z Crypto CSX, an investor at Andreessen Horowitz. “This potential is substantial.”
It is possible that the success of Oncade will boost the use of Ethereum’s network. Even though Oncade’s initiative is still in its early stages, there is a possibility that the gaming industry may see a rise in demand for blockchain solutions.
The investments that a16z has made in gaming have, historically speaking, been beneficial to platform governance tokens. Despite the fact that Oncade has not yet disclosed any tokens, it is possible that its future advancements may follow the pattern seen in a16z’s past endeavors. Currently available data does not point to a market effect on Bitcoin or other cryptocurrencies at this moment.
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