iBLOXX Raises $5 million to grow its Blockchain Gaming Division

Published March 8, 2023
Dubai, United Arab Emirates (Newsworthy.ai) Wednesday Mar 8, 2023 @ 2:00 PM Asia/Dubai —

iBLOXX, a premier Web3 incubator and Market Maker, revealed today that it secured a 5 million USD investment in a recent funding round led by PrimeXM. The capital will be utilized to expand the company's GameFi division. The investment brings the gaming division’s post-money valuation to 30 million USD.

The funds will be primarily used to develop iBLOXX Studios, the group's Web3 gaming arm. iBLOXX Studios is focused on building blockchain games using Unreal Engine and Unity, developing GameFi economy health- and monitoring solutions, as well as creating trading-related blockchain applications. With this funding, iBLOXX Studios will be able to accelerate the development of its gaming offerings and expand its reach in the blockchain gaming market.

"PrimeXM, which is amongst the world’s leading providers for foreign exchange and cryptocurrency trading solutions, caters to some of the industry's largest players, such as Saxo Bank, IG, Equity.com, SwissQuote or OKCoin. Their decision to invest in iBLOXX is a testament to their unwavering confidence in our company's potential for growth," said Domenik Maier, CEO of iBLOXX.

About iBLOXX Studios DMCC

iBLOXX Studios is the game development division of iBLOXX Group and is based in Dubai. It specializes in creating games built on the blockchain using Unreal Engine and Unity, developing sustainable token economies, monitoring solutions, and blockchain applications.

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