Venturebeat reports that Rainmaker Games has closed a new funding round. The company raised funds for a blockchain-based gaming platform. The latest seed round moved $4.7 million.

Side note: Metaverse company Infinite Reality will IPO for $1.85 billion.

The funding round was led by Placeholder and Hivemind Capital. Also participating were Hivemind, Shima Capital, Peer Ventures, Coinfund, Side Door Ventures, Blockwall Capital, Placeholder and Tokenbay Capital.

The company closed its previous seed round in December 2021, raising $6.5 million.

Rainmaker Games says the new platform is focused on gaming communities, but the company initially focused on play-to-earn mechanics. The company compares the platform to the fitness app Strava, which allows users to compete with others in games without having to play simultaneously. Rainmaker is committed to building new communities in the gaming market and plans to launch the platform in beta in early 2023.