Wizzwoods has secured $10 million in a Series A funding round co-led by Animoca Ventures and Infinity Ventures Crypto, aiming to enhance its cross-chain game and SocialFi features.
The funding highlights institutional confidence in Wizzwoods’ innovative approach, potentially impacting liquidity and trading volumes of related tokens. Market players anticipate increased activity on cross-chain platforms.
Wizzwoods Secures $10M for Cross-Chain Gaming Expansion
Prominent industry figures, including Animoca Brands Chairman Yat Siu and Infinity Ventures Partner Brian Lu, endorsed Wizzwoods’ vision, stating its cross-chain and SocialFi approach represents a pivotal evolution in Web3 gaming. Their Twitter announcements underscored the project’s potential to foster a more extensive adoption of digital gaming ecosystems through innovative integration.
According to CoinMarketCap, the Wizzwoods (WIZZ) token recently experienced a significant price shift. Although it currently holds no market dominance or 24-hour trading volume, its supply cap stands at 10 billion tokens. Notable fluctuations include a 17.42% jump over seven days but an 84.44% decline in the past two months. These price changes, reported on August 4, 2023, indicate a volatile yet pivotal period in the digital asset’s valuation.
“Wizzwoods is building the future of social gaming and digital ownership. Their cross-chain approach is exactly what the Web3 ecosystem needs.” — Yat Siu, Co-Founder & Chairman, Animoca Brands.
Historical Context, Price Data, and Expert Insights
Did you know? The substantial funding received by Wizzwoods is reminiscent of early investment rounds seen in projects like Axie Infinity, which has since reached an impressive market cap of over $10 billion at its peak.
Expert analysis from Coincu suggests that the integration of gaming and social finance could drive broader financial and technological advancements across the blockchain industry. The emphasis on cross-chain interoperability supports growth in liquidity and staking, enhancing value in the evolving Web3 ecosystem.
These insights illustrate the transformative potential of Wizzwoods in the gaming sector, emphasizing the importance of funding for further innovations.
