A Cary-based gaming startup pledging that players can “win real cash by playing games” has secured nearly $1.4 million in new debt capital.
FYX Gaming, which raised previous debt rounds of $1.3 million and $551,000 in 2020 and 2019, respectively, raised the sum from six investors, according to securities filings.
The firm is the brainchild of Adam Kling who has delved into the intersection between blockchain and gaming before. Prior to FYX, he founded CryptoFights.io, creating what he described on LinkedIn as a “3D RPG Fighting Game using Blockchain technology with a focus on eSports.”
At FYX, he’s working to create a new eSports platform “by introducing new monetization methods for competitive gaming.”
Kling, who did not return a request to comment on the firm, writes on his LinkedIn profile that he first became amazed with Bitcoin back in 2013 and has been following blockchain technologies ever since. With FYX, the goal is to combine competitive gaming with Bitcoin. CryptoFights, the first game released on the new platform, is described as a turn-based fighting game based on the mechanics of "Dungeons and Dragons," the fantasy role-playing game that's been a hit for decades across multiple platforms, including video games.
FYX has gone by different names in the past, according to securities filings, including Kronoverse and Thoughts in Motion Corp.
The filing lists Paul Rajchgod, an angel investor with the Ayre Group, as a director.
And it’s not the first time Rajchgod’s name has appeared in a Triangle funding filing in recent weeks. He’s also listed as a director in the filing disclosing Transmira’s $2.8 million raise.