GameOn Partners with Industry Heavyweights for Funding and Expansion of PLAYN3XT Platform

A significant strategic finance agreement has been made by GameOn (CSE: GET) (OTCQB: GMETF), a cutting-edge fantasy sports platform that partners with well-known international IPs to develop and market web3 games. Industry giants Lightning Capital and Flow, the blockchain platform created by NBA Top Shot developer Dapper Labs, have contributed funds to help GameOn’s PLAYN3XT platform grow and make it easier to acquire IP partners from big leagues.

Two different instruments have been used to raise a total of $1.7 million. The first is a group of convertible notes issued by Lightning Capital with a face value of $1.2 million and an annual simple interest rate of 10%, signed on June 8, 2023. The second, which was agreed to on June 5, 2023, is a non-dilutive grant from the Flow Ecosystem Fund that is dependent on a number of major league projects and milestones that will be revealed later.

Matt Bailey, CEO of GameOn, expressed excitement at the support from web3 giants, stating, “Earning conviction from web3 powerhouses is a nod to our team, product, and business. We continue to surround ourselves with resources, people, and organizations that foster success. We’re aggressively honing in on major league IP acquisition that will return scaled profitability, fueled by best-in-class product and execution.”

Lightning Capital and Flow Drive GameOn’s Major League Strategy

A reputable digital asset investment company with considerable web3 expertise, Lightning Capital has a track record of more than three years in the sector. Lightning Venture Fund focuses on making early-stage investments in initiatives, protocols, and companies within the web3 and digital asset ecosystem. Their goal is to make 10–20 investments per fund while offering operational experience. Lightning Capital’s general partner, Jock Percy, showed enthusiasm about GameOn’s potential, stating, “GameOn’s cutting-edge technology and proven ability to scale major brand partnerships is an exceptional investment opportunity. Matt and the team are world-class, and we’re excited to help drive and operationally support their major league strategy as a long-term partner.”

The blockchain platform created by Dapper Labs, Flow, is home to the Flow Ecosystem Fund, the biggest investment made in a blockchain ecosystem to date. With studio partners including the NBA, NBPA, WNBA, WNBPA, LaLiga, Warner Music Group, Ubisoft, Genies, and UFC, Dapper Labs has a solid track record. Mickey Maher, SVP of Flow Ecosystem Partnerships at Flow Ecosystem Fund, commended GameOn’s cutting-edge fantasy sports platform and emphasized the potential for success on the Flow platform by drawing comparisons to NBA Top Shot’s performance. Maher stated, “We’re blown away by GameOn’s next-generation fantasy sports platform. There is a track record of IPs having huge success on Flow, like NBA Top Shot from Dapper Labs. We can’t wait to share that knowledge, experience, and network and be a key strategic partner to GameOn’s long-term success.”

On July 6, GameOn will have an investor webinar where it will give further details about the funding, financial reports, and company’s future objectives.