Glip secures $2.5 million in funding round for its Web3 game discovery platform

Published on:

The Web3 game discovery platform and wallet app Glip, which is based in Bengaluru, has raised $2.5 million in a fundraising round that was co-led by Hashed Emergent and included BEENEXT and current investor Prime Venture Partners.

The latest fundraising round has made the total fund raised by the company to $6 million. They have also secured funding from the likes of Prime Venture Partners, Better Capital, iSeed and various angel investors.

The company plans to use the funds in order to launch new product features along with hiring more team members and increasing the reach of their community globally.

Glip was founded back in 2020 by Parth Choudhary and Ishan Shrivastava. The company has also made a game discovery platform like Steam which uses Web3 as its base. Their app is also a huge success with over 7 million downloads from different countries, including Brazil, Southeast Asia, and India.

Glip allows users to view tutorials, see new web3 games, and take part in activities and tournaments. In order to increase user engagement and user acquisition, the Web3 app has also partnered with Netmarble titles like Axie Infinity, League of Kingdoms, and KOF Arena.

According to the company, Web3 game developers can monetize their creations with Glip by listing them on the site and attracting players. The company also claims that it currently has over 2 million monthly average users and over 2,00,000 daily average users.

Glip CEO and founder Parth Choudhary said, “With $10 Bn already deployed, Web3 games are increasing rapidly and getting better by the day, but they are all struggling with user acquisition on web2 platforms. Our mission is to build the world’s largest Web3 gamer platform.”

Managing partner at Hashed Emergent, Tak Lee said, “The team at Glip has built a seamless platform to solve for both. We are impressed by the team’s agility, foresight and speed of execution, and are excited to partner with them on their journey to build the ‘Steam’ equivalent for Web3 games.”

While the Web3 gaming in India is yet to gain a strong footing, it is expected to rise in popularity quickly among the huge player-base in India. According to a report from Deloitte last year, the online gaming market is predicted to reach the $2.8 billion mark by 2022.