According to Odaily, Param Labs, a Web3 gaming platform, has announced the successful completion of a $7 million funding round. The round was led by Animoca Brands, with participation from Delphi Ventures and Cypher Capital. Param Labs aims to establish a gaming ecosystem managed by its native PARAM token, which is set to be launched soon.
The funding will be used to further develop and expand the gaming platform, with a focus on integrating the PARAM token into the ecosystem. This token will play a crucial role in the platform's operations, providing a unique gaming experience for users.
The involvement of Animoca Brands, Delphi Ventures, and Cypher Capital in the funding round underscores the growing interest in the gaming industry's potential to integrate blockchain technology. The successful funding round is a significant step for Param Labs in its mission to revolutionize the gaming industry.