InWara - ICO Database, ICO review, Security tokens and more

Blockchain startup — Azarus raised $1.8 million for Smart Challenge platform

Blockchain startup raised funds

Azarus has raised a whopping $1.8 million in a seed funding round led by Galaxy Digital (via Galaxy EOS VC fund), according to InWara’s market intelligence platform.

Are you a fan of gaming?

Or like watching your favorite gamers on twitch? If you are! Then would you like to be paid for doing so?

That’s exactly what Azarus’ platform does — it allows gamers to compete for crypto tokens in gaming challenges and can be redeemed for virtual goods and other gaming related items. 

Sam Englebardt, co-founder of Galaxy Digital was quoted saying “Azarus’ implementation of blockchain tech and the EOSIO protocol is precisely what we look to invest in from the Galaxy EOS VC Fund: a scalable and consumer-friendly gaming platform that demonstrates the promise of blockchain technology”. 

Azarus’ blockchain-based “Smart Challenged to redeem in-game goods and other gaming related items. First launched in 2018 — the Smart Challenge platform is designed to increase player engagement and retention by augmenting players engagement. 

Galaxy Digital portfolio breakdown

Blockchain startup raised funds

InWara’s market intelligence platform


Like our data? You'll love our market intelligence platform Get started

Galaxy digital has invested in a slew of Blockchain and crypto projects over the years including in projects such as Bakkt, Bitgo, High Fidelity among numerous others. Overall Galaxy Digital has taken part in over a dozen investment rounds, valued at a whopping $466.8 million (source).

A majority of the firm’s investments was in early-stage tech startups — Venture Round (25%), Series A (33%) and Seed round (8%).

So why invest in a gaming platform? The gaming industry could trigger mass adoption of crypto as gamers use it in-exchange for receiving virtual goods.

Also, gamers are usually tech-savvy people who are open to using new technology, so the transition from fiat to crypto shouldn’t be a difficult one.

Register for a free trial

The Most Trusted

Market Intelligence Platform

Get Started