Soulbound, a web3 social gaming ecosystem, has successfully raised $4 million to advance its mission of empowering the new creator economy. By creating an avant-garde platform that seamlessly integrates GameFi and SocialFi, Soulbound aims to deliver a next-generation digital experience. This latest funding round, which concluded in Q2 2024, saw participation from leading gaming and blockchain communities.
The investment will be instrumental in establishing gaming partnerships, enhancing social interactions, and expanding streamer bounties and social questing. Since its inception, Soulbound has increased its team by 300% in the areas of engineering, business development, and community-building. The team is also working on implementing Twitch live-stream integration for Soulbound-partnered games and improving user experience. The company’s Token Generation Event (TGE) is expected to occur in H2 2024, with additional applications set to launch in Q3.
Soulbound is positioned to significantly impact the gaming industry by onboarding the next generation of players, streamers, and creators into the web3 gaming space. Users can earn non-transferable DRIP tokens for engaging with Soulbound and its partnered games, thereby showcasing their gaming accomplishments and enhancing their unique gaming identities. Features like gameplay videos, Twitch clips, and community “vandalism” interactions, where users can place stickers on others’ posts, are redefining social gaming for Soulbound users.
Streamers and creators will benefit from new revenue channels, including streaming bounties and a sticker marketplace for artists and collectors. To date, Soulbound users have “slapped” over 25,000 stickers from more than 150 artists on posts. Beyond individual gamers, the Soulbound platform extends into the B2B space, allowing game studios to acquire and engage users through streamer bounty pools, featured quests, and targeted promotions powered by data-driven profiles and user-generated content.
Soulbound is currently onboarding five new games per week to its platform and has hosted streaming activations with titles like Shrapnel, Parallel, and Nifty Island. These events have attracted over 200 players in competitive tournaments, amassing over 50,000 minutes streamed across the Soulbound network.
“Gaming is no longer a solo experience,” said A.I. Mansbridge, co-founder of Soulbound. “Game studios, gamers, and streamers want to reach new audiences. Soulbound is a bridge for traditional gamers, streamers, and game studios to the expansive blockchain gaming space.”
Casey Grooms, another co-founder of Soulbound, echoed this sentiment, saying, “Gamers, streamers, artists, and developers are tired of the gaming status quo. Soulbound is building a social platform that shakes up the traditional community interaction model. With support from our investors, we will deliver a first-of-its-kind avant-garde social gaming experience.”
