Terra Blockchain-based C2X Raises $25M in Token Sale

C2X, the blockchain gaming platform built on top of the Terra blockchain, has managed to raise $25 million during its highly subscribed token sale this week. The fundraising itself was supported by some investing heavyweights in the blockchain space, such as FTX Ventures, Jump Crypto and Animoca Brands.

Following this private token sale, the funding now places the company’s total valuation to over $500 million, with further plans to launch another public digital token sale. For the moment, there has yet to be a confirmed date for this sale.

Off the back of this token sale, the C2X platform will continue to be developed and, according to its parent company – MetaMagnet – the platform’s development will be supported by Hashed and will include token economics, NFT marketplaces and a wallet.

Alongside Hashed, C2X has said in the press release that it’ll also be following the advice of the South Korean Com2us, which has also been advised by Hashed. With this capital and advice, C2X aims to truly empower developers and creators, according to MetaMagnet’s Director:

“Blockchain technology provides a transparent and secure platform for users to buy, sell and store assets, and applying this concept to video games was the logical next step… C2X puts the power in the hands of the users and builders, not in a single centralized entity, enabling the full community to direct the platform’s operations and fully invest in its success.”

Paul Kim – Director of MetaMagnet

For more details about C2X, check out the website right here.

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