SkyBridge Capital Leads Series A Funding Round for Leading Metaverse Company Vulcan Forged
Funding to further accelerate company growth and scale operations in North America and existing key marketsNEW YORK, Sept. 21, 2022 /PRNewswire/ -- Vulcan Forged, ("the Company") a leading blockchain game studio and decentralized application ("dApp") incubator, announced today that it has secured Series A funding led by SkyBridge Capital ("SkyBridge"), a global alternative investment firm specializing in cryptocurrencies, digital assets, fintech and venture capital.SkyBridge led the $8 million round, which includes the option to invest an additional $33 million. MetaScapes is the result of multiple years of development work and, once launched, the company expects the product to compete with the expansive world of the popular game, Minecraft. "Jamie is a brilliant entrepreneur and has impressed me as he bootstrapped Vulcan Forged from a small startup to a top 10 metaverse project in the last two years, with a strong commitment to their growing community," said Anthony Scaramucci, Founder and Managing Partner at SkyBridge Capital. "In 2021, Vulcan Forged created Elysium, its own proprietary proof-of-stake blockchain that was purpose-built for gaming, dApps and other metaverse activity with fast transaction speeds and low gas fees. In addition to Ethereum Virtual Machine compatibility, Elysium is carbon-neutral through its partnership with Coorest, which uses tokenized trees to offset its energy consumption and environmental impact.
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