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Web3 game startup GFAL raises $3.3 million from Supercell and Mitch Lasky

GFAL, a web3 game firm, has acquired $3.2 million in seed funding from investors including Supercell and Mitch Lasky, among others

Barcelona-based GFAL has conducted a limited launch of their mobile game Elemental Raiders, which is progressively expanding its Web3 audience.

The $3.2 million seed investment round adds to the $4.4 million in capital raised by GFAL following the successful launch of its $GFAL token in Q1, 2023. It has a market capitalization of $52 million currently.

Manel Sort leads the GFAL team, which includes former executives from major industry giants such as King Entertainment, Activision Blizzard, Electronic Arts, Netflix, and Digital Chocolate.

“We have a team of very seasoned people in our company,” Sort said in an interview with GamesBeat. “We have all the people who are also very talented from working on several games in the past.”

Sort said, “We are incredibly grateful for the confidence that Supercell, Mitch Lasky, and Heinrich Zetlmayer, have placed in GFAL. Working on a project alongside Trip and Ilkka, with whom I shared many thrilling and successful years at Digital Chocolate, is a dream come true, and I can’t wait to show the world the high caliber of games we are building.”

GFAL is preparing multiple soft launches for Q4 2024, which will be followed by full releases in 2025.

Supercell is the main game developer and publisher of Clash of Clans and other popular titles, while Lasky is a partner at Silicon Valley venture capital company Benchmark and a former entrepreneur and video game executive.

Other investors in the round included the former Co-Managing Director of esports major ESL, Heinrich Zetlmayer, Bonduc Bioscience SL, BCNBCNLVC, and Sandsoft CEO David Fernandez. They join current GFAL investors Bonsai Partners, Nekko Consulting, and Inveready, among others.

GFAL is a video game production and publishing firm that uses cutting-edge technology to create original, interesting, and infinitely playable games. GFAL, founded by industry specialists, combines creativity with cutting-edge technology, including AI and Web3, to influence the future of gaming.

Ilkka Paananen, CEO of Supercell, stated, “I had the pleasure of working with the team earlier in my career.” We are delighted to be a part of their journey and witness what great things they will accomplish.

The Web3 games studio is on a goal to create original, entertaining, and limitless gaming experiences by developing new video game genres and business structures. GFAL’s token has reached an astounding fully diluted valuation (FDV) of millions of dollars following one of the most outstanding token launches of 2023.

“GFAL has really blossomed in the last year,” said Trip Hawkins, the company’s cofounder and chief strategy officer, in a statement. “I have enormous regard for Ilkka, Mitch, Heinrich, and our team, and this investment clearly validates our efforts. We are enthused about the future year and have the tools to deliver and expand.”

The new financing will enable GFAL to expand Elemental Raiders. Elemental Raiders has a rising player base and is consistently improving in terms of game performance and stats. And Lasky, a veteran game investor, said in a statement, “I’ve been very impressed with the GFAL team’s design-centered approach to web3 gaming, and I am delighted to join my friends Trip Hawkins and Ilkka Paananen in this financing round to support Elemental Raiders and other titles.”

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