Soulbound, a gaming streaming platform has secured $4 million in a recent funding round, aimed to build a more robust web3 social gaming ecosystem. The funding round received participation from top gaming firms and blockchain communities including Blocklords CEO David Johansson, iAngels, Animoca Brands, Big Brain Holdings, NGC Ventures, Panony, Delta Blockchain Fund among others. In 2022, the platform raised $3.60M from its pre-seed round.
After its initial $3.6M investment, the platform has gathered a powerful team of experts across engineering, business development, and community-building fields to build a player profile system designed that rewards players for its passion and metaverse engagement.
According to Soulbound, the investment will aid the platform’s mission to establish gaming partnership, add social interactions, and expand streamer bounties and social questing.
The team is focusing on implementing a Twitch livestream integration for Soulbound-partnered games and improving the user experience ahead of its upcoming TGE, expected to take place in the last half of the year. Banking on the team’s rich background in mobile gaming, traditional gaming and user acquisition, its new focus reinforces Soulbound’s mission to empower the new creator economy.
Soulbound Introduces New Mechanisms: “Slapping” and In-Stream Wager Mechanisms
In an exclusive interview with Casey Grooms, Soulbound’s co-founder said the platform has drifted from its initial DAO model with the introduction of Saga to build a more functional startup. Soulbound began its fresh initiative with a platform called Popdrip, driving NFT sticker interactions and posting social content. A significant growth occurred after Soulboun added game questing in March and April, attracting an integration of streaming and bounty programs.
Soulbound aims to onboard more players, streamers and creators into web3 gaming. Therefore, the team is hoping to build an all-new UI with streaming as an integral component, bridging the gap between web2 and web3 gaming. The platform functions as a hybrid of Twitch and Steam, giving users the ability to showcase their accomplishments using Soulbound’s unique “slapping mechanism”.
This mechanism offers a sticker marketplace for artists to upload their stickers and generate revenue. Soulbound is revitalizing its social gaming allowing users to slap stickers on other’s posts via Gameplay videos, Twitch clips, and community “vandalism” interactions. Currently, over 25,000 stickers have been slapped on the platform.
Furthermore, Soulbound would introduce an additional in-stream wager mechanism where users can predict a streamer’s next move or action for rewards.
Soulbound Collaborations With Traditional and Blockchain Games
The platform is seeking collaborations from Web2 and Web3 games, staging activations with bounties serving as rewards for streamers and content creators. Soulbound has steadily onboarded two games weekly and has successfully hosted streaming activations with Shrapnel and Echelon engaging over 200 players in competitive tournaments, hitting over 50,000 minutes of streaming.
To learn more about Soulbound, visit https://soulbound.gg/