Techstartups reports that gaming platform Arcade2Earn, built on the Solana blockchain, has raised $3.2 million in a seed round of funding led by Capital.

Arcade2Earn differs from many web3 gaming platforms in a unique concept called «mission pools», which allows gamers to earn money without owning an NFT.

The round also included investments from Solana Ventures, Shima Capital, KuCoin Labs and GSR.

Today, Arcade employs 20 people, including six co-founders. So far, the company has no plans to increase the number of staff.

Investment in web3 has declined this year, but game projects are still popular. In the third quarter, most venture funding went to NFT and gaming.

Side note: NFT games are just gaining momentum.

Source: Techstartups

Users contribute to mission pools using the xarcade token, which consists of operators and contributors. The operator is anyone approved by Arcade, including gaming guilds. Operators play games using NFTs owned by Arcade’s treasury or lent to Arcade, which is then used for profit.

Jaleel D. Menifee, Business Transactional Attorney, specializing in commercial at Arcade2Earn

Mission pools contributors are Arcade2Earn token holders who decide which operators and in-game events they want to support by contributing xarcade tokens. The token contributed is locked into mission pools and returned with a proportionate share of the reward.

Not everyone has the knowledge or time to play these games and earn. Arcade fills the gap by allowing these groups of people to enjoy income through specific products without directly playing the games themselves.

Xinly YU, Head at KuCoin Labs

The Arcade platform is under development, and a demo will launch by the end of the year. A public launch of the platform and token will follow.