CTA raises funds from Animoca, Ubisoft to augment its blockchain gaming capabilities

Cross the Ages (CTA), which is into blockchain-based collectible card gaming, has raised a fund of $12 million from players like video game publisher Ubisoft and Hong Kong-based game software company and venture capital firm Animoca Brands as well as from Sebastian Borget, co-founder and COO of The Sandbox. The Singapore-based firm revealed that the funds raised will be deployed towards development programs, increasing its talent pool as well as for ‘go-to-market’ activities.

CTA will be coming up with an ‘NFT marketplace’ and ‘decentralised finance (DeFi)’ protocols suite and also has long term of getting into the metaverse in 2023, as per a CoinDesk report.  

NFT is a blockchain-backed technology that signifies the ownership of a digital item, DeFi platforms offer decentralised finance avenues for investments and are built on blockchains such as Ethereum and Binance Smart Chain (BSC). Also, while blockchain gaming allows gamers to be rewarded with cryptocurrencies for players, NFTs are increasingly used to purchase digital items, real estate, etc.  

“The CTA DeFi product will be accessible via the main user interface, but it will operate as its own standalone platform. We want to keep the gaming experience somewhat separate to ensure that the more commercial aspects of the CTA experiences do not distract from what will be a dynamic and unique metaverse gaming experience,” CTA co-founder and CEO Sami Chlagou revealed while responding to queries by CoinDesk.

Also read: Gaming industry gears up for Asian Games but challenges remai

Furthermore, the report also said that CTA is on course to release a beta version of the game by May end, with digital and physical cards to be released in June. 

The Blockchain gaming industry has seen quite a few developments over the last few years. For instance, Krafton, the developers and distributors of the Playerunknown’s Battlegrounds (PUBG) franchise -in India as Battlegrounds Mobile India (BGMI- had announced a partnership with Solana Labs, promoters of the Solana blockchain and SOL cryptocurrency token. 

Likewise, Warner Music Group (WMG) has teamed up with Splinterlands, a trading card game built using blockchain technology. The partnership enables select WMG artists to create and develop unique, play-to-earn (P2E), arcade-style blockchain games. Crypto exchange giant FTX, which launched its own gaming unit in February, announced the acquisition of ‘Good Luck Games’, maker of the free-to-play card battle game “Storybook Brawl.”