Souq Announces $3.3M Pre-Seed Round

Led by Kickstart and Infinity Ventures Crypto, Souq is poised to redefine gaming as the first portfolio manager for Web3 game assets.

Souq G-Commerce announces their $3.3 million pre-seed raise alongside beta availability of their Portfolio Manager for Web3 game assets. The round includes participation from Kickstart, IVC, Operate, Moon Holdings, Ellipti Ventures, Perpetual Value Partners, Himanshu Sahay & Partners, Sterling VC, Evernew Capital, BBQ Capital, Mike del Balso, Chris Chang, BlockØ, Aleph One, Gautam Shah, and Miko Matsumura. The funding will be used to further expand Souq’s flagship product, supporting players and games across all major blockchains.

Today, managing and tracking game assets is challenging, as assets exist across a variety of games, wallets, and blockchains. Structured information about asset value and game economy/community health is non-existent. Souq onboards players in less than 30 seconds, and allows them to track and manage their portfolio across any blockchain or wallet.

Marketing Technology News: Only 5%? CHEQ Study Shows Up To 12% Of All Traffic Originating From Twitter Is Made Up Of Bots

“We exist to help players become owners of the games they love and share in the upside of these new virtual economies,” shares Souq CEO JonPaul Vega. “We are at the start of a paradigm shift in the largest global category of entertainment: gaming. Players will be treated as stakeholders of the games they play, enabled by property rights enforced through blockchain technology. ”

Souq is pioneering the technology to discover and monitor a portfolio of Web3 game assets. Their roadmap includes building out the financial market focused on game economies, which will power yield generating opportunities for the player community.

Marketing Technology News: MarTech Interview with Venkat Nagaswamy, CMO at Mitel

“These new economies require that players have more information rights than Web2 games. We are positioning Souq to be the one-stop shop for information about holdings and game economies.” said Ken Berkowitz, Head of Product.

Drawing on over a decade of building world-class consumer products, Souq is building a magical player experience. Artem Germanov shared his intention to “continually abstract away technical friction for our community: players link their wallets and we do all the magic. The success of our NFT price oracle and UX highlight this focus.”