Oversubscribed fundraising round will contribute toward the company’s vision of a social destination on top of a gaming space
Instant Leaderboard Payout firm Haste Arcade has just closed its $1.5 million seed round. The fundraising was oversubscribed and Haste was able to exceed its $1 million target.
“We were originally seeking $1M to lay a good solid foundation for the product/vision and then have some working capital to start testing our assumptions around product/market fit, specifically with marketing outside the ‘crypto’ community,” said Dan Wagner, the co-founder of Haste Arcade.
“After pitching the concept to a handful of investors, it became obvious that we weren’t the only ones thinking ILP Gaming could potentially become a ‘thing.’ We stopped pitching a couple of months ago but due to word of mouth and interest from other investors, we were able to secure an additional $500K on top of the original goal bringing the total to $1.5M.”
Games first
Haste claims to be the first company offering performance-based payouts in the form of Player Cards NFTs. Speaking of the company’s Instant Leaderboard Payout mechanics, Wagner said, “Haste Arcade has uncovered an entirely new category in gaming… It’s novel, it’s new, and it’s easy to understand. Get on the leaderboard. Get paid. It’s not rocket science by any means and at the same rate, it’s not hard to imagine something like ILP Gaming catching on and taking off.”
The future
“We are highly focused on a couple of things at the moment like capturing and analysing data from our marketing efforts and sharpening the unit economics so that we have a compelling story when we start raising growth capital. We are also highly focused on creating new and more engaging experiences throughout the arcade. We’re very excited about certain items on our roadmap and believe the online gaming community will be too,” said Wagner.
This fundraising will contribute towards the company’s vision of a social destination on top of a gaming space, with support from, “The biggest celebrities and pro athletes in the world”. Wagner also describes a future where consumers will buy Haste consoles or find games in bars and arcades.