Hedera-Powered Billion-Dollar Gaming Startup Spielworks Secures Strategic Funding From Hashgraph Association

• A fast-rising gaming startup powered by Hedera, Spielworks, announced it has secured funding from The Hashgraph Association.

• Kamal Youssefi, President of The Hashgraph Association, believes that THA and Spielworks share a common vision that can extend the benefits of Hedera’s DLT to the gaming community. 

A leading blockchain gaming startup powered by Hedera, Spielworks, has announced that it has sealed a strategic partnership with The Hashgraph Association (THA). According to the official website, Spielworks focuses on bridging the Web3 and traditional gaming ecosystem.

| @Spielworks – a leading #blockchain startup bridging #web3 and traditional #gaming – has received strategic funding from @The_Hashgraph Association to scale its business, foster collaboration, and drive web3 gaming activity on the #Hedera network.

https://t.co/8NMSWc1Eg1 pic.twitter.com/DDMWyMDE7p

— Hedera (@hedera) December 14, 2023

More on the Partnership

As part of the partnership, the startup would receive funding to acquire Atomic Hub, a renowned NFT platform and one-stop solution for creating, trading, buying, and selling NFTs. Over the years, Spielworks has been working to scale its business while expanding the Web3 ecosystem. On top of that, it would utilize the high-performance and open-source public ledger of Hedera. 

The Hashgraph Association is a Non-Profit Organization that ensures that the adoption of the Hedera network is accelerated globally. Hedera is an open-source and proof-of-stake network that powers the next generation of the web. 

The funding would promote unity and collaboration while increasing the number of Web3 gaming developers building on Hedera. 

According to Adrian Krion, CEO of Spielworks, the collaboration will open up additional access to new opportunities.

Through THA’s funding and our newly established connection to Hedera, we gain a ton of additional exposure to high-profile, large-scale partners and a thriving ecosystem based on massively scalable technology. Working with the next generation of game developers shaping the future of this industry, we’re happy to extend to them the benefits of Hedera’s leading-edge distributed ledger technology.

Other Details and Price Reaction of Hedera (HBAR)

THA would support Spielworks’ mission of creating the gold standard of Web3. This includes a singular ecosystem for the distribution, publishing, development, and trading of games. THA would also ensure that areas such as “business development, commercialization, technology development, and future funding” would be supported. Also, the decision of Spielworks to provide gamers with the lowest cost of transactions and increase the network utilization of Hedera would be facilitated. 

Spielworks’ Web3 unlocks new opportunities for mass-market gaming. These include the real ownership of in-game digital assets and secure handling tokens associated with games. Another known benefit is verified and reliable interactions with blockchain game providers.

According to Kamal Youssefi, President of The Hashgraph Association, the mission of Spielworks is in line with the decision to share the core benefits of Hedera’s distributed ledger technology (DLT) with the gaming community. 

The funding will allow us to educate, scale, and build an interactive Hedera-powered gaming environment with Spielworks, enabling more users in an already flourishing Web3 gaming community. We’re confident that bolstering the use of Hedera and showcasing the varying applications of the technology will exhibit the transformative potential it holds across the gaming industry as one of the most exciting industries in tech due to its significance to culture, entertainment, and technological advancement.

Thanks to the collaboration with THA, Spielworks would look for ways to incorporate Hedera’s technology into its offering. 

Hedera (HBAR) was down by 4% in the last 24 hours as of press time and was trading at $0.081508. According to market data, the asset has a weekly growth of 7.9% and a three-month price surge of 61%. Analysts expect Hedera to finish the year with an average price of $0.122262.