Blockchain startup raises funds for digital collectible cards platform

A startup has produced a card game that enables users to find and play games using digital collectibles on the blockchain.

Gaming is a multi-billion dollar industry and technology is helping it evolve even more. Once refined to families gathering around a board game, the growth and impact of online gaming is now one of the biggest phenomenons in recent times. From a voice-augmented board game to a video game that acts as a savings account, the sector is constantly expanding in ways many could never have imagined.

Now blockchain startup Gamedex is taking things one step further. The company has raised 800,000 USD in a seed round to build a platform for blockchain-powered digital collectible cards and digital collectible card games. Existing examples include the likes of Pokemon, Hearthstone, Magic: The Gathering, and FIFA Ultimate Team. The Gamedex game store also lets users find and play games that use their collectibles. Users can play for fun or use their tokens for a chance to win more cards. Gamedex has utilized blockchain technology so users can’t counterfeit cards, a common problem with physical trading card games. According to Gamedex, the digital card game industry is worth over 3 billion USD to date. The collectibles sector is valued at a huge 370 million USD.

Investors purchased Gamedex tokens – which are known as GDX tokens – instead of equity. Invictus Capital led the funding round, investing via their Hyperion fund. The Hyperion fund is a tokenized venture capital fund, which invests in talented entrepreneurs and visionaries in the blockchain industry.