Web3 Games Startup GFAL Closes Seed Round with investors including Supercell and Mitch Lasky
April 29 2024 - 12:57PM
Web3 video games startup GFAL, also known as Games for a
Living, has announced that it has closed a seed funding round with
several investors, which include Supercell Ltd and Mitch Lasky,
among others. The $3.2 million round builds on the $4.4 million in
capital from token pre-sales that the company obtained in 2023
through GFAL's successful token offering.
The GFAL team includes
leadership who had previously held roles at leading industry
players, including King Entertainment, Activision Blizzard,
Electronic Arts, Netflix and Digital Chocolate. The Web3 games
studio is on a mission to build innovative, engaging and endless
gaming experiences through new video game genres and business
models. GFAL’s token, $GFAL, is currently sitting at a fully
diluted valuation (FDV) of $254,717,017 after one of the most
impressive token launches of 2023.
The additional funding
will help GFAL expand its core team and accelerate its production
plans. The studio will build on the successful soft launch for
mobile of the game Elemental Raiders, which took place in March
2023. Elemental Raiders has a growing community of players and is
seeing a steady improvement in the performance and the metrics of
the game.
Ilkka Paananen, CEO of
Supercell, said: “I’ve had the pleasure of working together with
the team earlier in my career. We are excited to be part of their
journey and see all the great things they’ll achieve.”
Mitch Lasky said: "I've
been very impressed with the GFAL team's design-centered approach
to Web3 gaming, and I am delighted to join my friends Trip Hawkins
and Ilkka Paananen in this financing round to support Elemental
Raiders and other titles."
Manel Sort, CEO of GFAL,
said: “We are incredibly grateful for the confidence that
Supercell, Mitch, and Heinrich have placed in GFAL. Working on a
project alongside Trip and Ilkka, with whom I shared many thrilling
and successful years at Digital Chocolate, is a dream come true,
and I can’t wait to show the world the high caliber of games we are
building.”
“GFAL has really
blossomed in the last year,” said Trip Hawkins, a GFAL co-founder
and Chief Strategy Officer for the company. “I have incredible
respect for Ilkka, Mitch, Heinrich and our team, and this
investment proudly gives us a clear imprimatur. We are excited
about the coming year and have the resources to deliver and
continue our growth.”
Supercell is the leading
game developer and publisher of Clash of Clans and other big hits,
and Lasky is a partner at Silicon Valley venture capital firm
Benchmark and a former entrepreneur and video game executive. Other
investors in the round included the former Co-Managing Director of
esports giant ESL, Heinrich Zetlmayer; Bonduc Bioscience SL;
BCNBCNLVC; and David Fernandez, CEO of Sandsoft. They join existing
GFAL investors Bonsai Partners, Nekko Consulting and Inveready,
among others.
For more information,
visit https://gfal.com/ or https://gfal.com/press/, or contact the
company at press@gfal.com. Play Elemental Raiders for free at
https://elementalraiders.gfal.com/.Learn more about the $GFAL token
at https://coinmarketcap.com/currencies/games-for-a-living/.
ABOUT GFAL
GFAL is a video game development and publishing
startup leveraging the latest technology to craft innovative,
engaging and endless games. Founded by seasoned industry experts,
GFAL fuses creativity and high tech - from AI to Web3 - to shape
the future of gaming. Its creations, designed to inspire,
captivate, and resonate across generations, demonstrate a
commitment to limitless fun and immersive gameplay.
Media Contact:
Hari Govindarajan
Luna PR
hari@lunapr.io or
press@gfal.com