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FTX's new IEO opens with a bang at 30x! C2X, a Korean blockchain gaming platform, has raised $25 million.

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The blockchain gaming platform C2X's token, C2X, officially started trading on FTX yesterday (21). The CTX/USD trading pair surged from $0.091 to $3 at the opening, an increase of 31 times; while the CTX/USDT trading pair even rose to $5 at one point, a surge of over 50 times.

C2X Official: Secured $25 Million Funding

According to the official announcement, C2X has raised $25 million in a private funding round led by FTX Ventures, Jump Crypto, and Animoca Brands, with the platform now valued at $500 million.

This round of private funding attracted numerous investors, in addition to the leading capital, including Galaxy Interactive, Crypto.com, Huobi Ventures, Infinity Ventures, Unanimous Capital, Bowei, Xsolla, Goal Ventures, Concept Art House, and other crypto capitals.

C2X is a blockchain gaming platform developed jointly by the South Korean gaming company Com2uS and the blockchain development company Terraform Labs. It aims to provide solutions for blockchain games, including designing token economies, NFT secondary trading markets, wallets, and other technical solutions, allowing game developers to integrate games into the blockchain.

Its highly modular software development kit (SDK) allows game developers to easily integrate blockchain technology into games. Through C2X, game developers can update game designs in real-time, create NFTs; users can easily manage their digital assets on the C2X platform, and CTX token holders can vote to decide on product launches, platform policies, and lead the platform's development direction.

Amy Wu, head of FTX Ventures, stated: "FTX Ventures is excited to lead the investment in the C2X platform and complete the $25 million funding. The development of Web3 games is still in its early stages, and teams like C2X have already started laying the groundwork this year, positioning themselves as leaders in the future. C2X is a comprehensive blockchain gaming platform with Terra as an official game Launchpad partner. In 2022 alone, C2X plans to launch 10 blockchain games, including the highly anticipated large-scale role-playing mobile game 'Summoner’s War universe'."