A crypto-tinged gaming company just closed on a $1 million debt round – and the plan is to change the entire industry.
According to CEO Adam Kling, Raleigh-based FYX is trying to create a next-generation esports platform for game developers by introducing new monetization methods for competitive gaming.
It closed on a $1 million round last month from a single investor, according to a securities filing. The filing shows the company expects to close on another $500,000 to close out the round.
The 4-year-old firm, which put out Blockchain-based game CryptoFights, is “working on the technology to scale a game using Bitcoin,” Kling said.
The team, at about 20 employees, is about to release CryptoFights 2. But Kling has big aspirations – not just for FYX, but for the entire industry. He says there’s a “protocol war” happening, where there are several Blockchain platforms – and eventually a dominant system will rise above.
“If we can prove out that it can scale and demonstrate this technology with this game, other games are going to come and want to build on that,” he said.
And it is all about scale. He envisions growing from 2.5 million transactions a day to some day “a billion per day – now you’re rivaling Visa.”
And the vision doesn’t stop there.
“I envision a world where the games, the assets, the items, all of those are inter-offerable between each other,” he said. “They’re not siloed into any one system. We start to have that ‘Ready Player One’ type of feel.”