Moneycontrol PRO
you are here: HomeNewsBusiness

Web3 games asset marketplace Tegro crosses 100k signups

Debuting later this month, the marketplace will allow players and investors to buy, sell and play with game assets

August 04, 2022 / 12:36 PM IST

Web3 game asset marketplace Tegro said on August 3 that it has crossed 100,000 signups in the first 48 hours.

The company had opened signups on August 1 in order to give early access to its marketplace that is debuting later this month.

Tegro is building a game-asset marketplace for players, traders and institutional investors, enabling them to trade, hold and play with game assets. It will also provide asset stats to help them trade and invest better.

Web3 is said to be the next iteration of the internet, which will be decentralised and run on the blockchain. Siddharth Menon, who previously co-founded cryptocurrency exchange WazirX, had teamed up with Pune-based game development firm SuperGaming to launch Tegro.

The startup's roadmap also includes providing market software development kits and application programming interfaces to developers, helping them make games and design "economies for a global audience".

Close

On May 17, Tegro announced a $1 million grant for Web3 game developers. One can apply for the grant to get up to $25,000 a project. The startup had said shortlisted applicants will receive guidance on developing better Web3 games from a team "with deep experience in making games and designing marketplaces with high liquidity".

"Through the first Tegro grant, we hope to bring users a new class of games worthy of actually being games, rather than a collection of poorly cobbled together websites and weak economies that eventually end up being rug pulls," Menon had said on May 17.

Several companies are eyeing the Web3 gaming space including Dream11 parent Dream Sports that led $120 million funding in Cricket NFT platform Rario through its corporate venture and M&A arm Dream Sports.

nCore Games recently raised $10 million funding to expand its properties into metaverse and NFTs as well as launch new games in the Web3 and play-to-earn spaces.

Mobile gaming and sports media platform Nazara Technologies is also foraying into the space through its freemium gaming business by building a cricket offering in Web3.
Moneycontrol News
first published: Aug 4, 2022 12:36 pm
Sections
ISO 27001 - BSI Assurance Mark