Circle of Games secures $1 million of strategic funding from Nazara Technologies and The Hashgraph Association

Circle of Games secures $1 million of strategic funding from Nazara Technologies and The Hashgraph Association

[PRESS RELEASE – Dubai, United Arab Emirates, April 18th, 2024]

  • COG plans to widen its global presence in the US, EU, Middle East & Africa, and Asia in 2024
  • The company aims to onboard 100 million users by 2026
  • COG intends to scale rapidly through strategic investments and partnerships.
  • It seeks to establish itself as the leading premier global hub for casual gaming.

Circle of Games (COG), has raised $1 million in equity funding from strategic investors Nazara Technologies FZ LLC, (a wholly-owned subsidiary of the Nazara Technologies Limited) and The Hashgraph Association, the Swiss-based organization at the forefront of global digital enablement for Hedera. Hedera is the world’s leading distributed ledger technology.

Nazara is India’s largest and only listed gaming company with a presence across eSports, Sports Media, Gaming studios, and Adtech. The company recently pledged USD 100 million to invest in successful and innovative brands and IPs with cutting-edge technology in the Web3, Virtual Reality, and AI space.

COG intends to use this funding to fast-track its go-to-market strategy, improve platform capabilities, and widen its international presence in the US, EU, Middle East, Africa, and Asia in 2024. With over 250,000 registered users, COG plans to expand its gaming portfolio from the current six games to over ten games by Q4 2024. Through this expansion, COG aims to target millions of gamers in the global casual and hyper-casual gaming community.

Alongside the investment, COG remains committed to leveraging its existing strategic partnerships and collaborations with prominent Web3 projects and ecosystems worldwide, namely Chingari, Solana, Foundership, KGeN/IndiGG Metarun, TheFishVerse, Ninja Games and various Gaming Guilds/DAOs, among others. These partnerships provide COG unique and immediate access to a 500+Mn gaming community in 50+ countries.

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COG has implemented multi-chain technology, with Hedera being the primary mainnet where the majority of on-chain transactions occur, and is empowering players with full ownership and control over their in-game assets and tokens. COG is set to launch its native token ($COG Token) by the end of Q2, 2024, promising an enhanced and innovative user experience.

Founded by veterans in the gaming & tech space, COG develops casual and skilled-based games on the blockchain, with play-to-earn reward mechanics.

Speaking about this alliance, Rabilal Thapa, CEO and Co-Founder of Circle of Games, said, “This strategic partnership not only represents a significant endorsement of COG’s mission and potential but also places the company in a prime position to exploit the expansive capabilities of Web3 gaming innovations, globally. This collaboration goes beyond mere capital investment; Nazara will offer strategic guidance, support and access to its extensive network to help the company grow and Hedera will provide COG access to their vast collections of games, ecosystems, and substantial users and their cutting-edge technology. I would like to express my sincere gratitude to Nazara, Kamal Youssefi, President of The Hashgraph Association, Stefan Deiss, Co-Founder & CEO of The Hashgraph Group – the service delivery and venture building arm of THA and Anindya Roychowdhury, Head of Ventures of THG (whose relationship with Nazara goes back 25 years), for their invaluable and comprehensive support in the development of this strategic partnership”

Kamal Youssefi, President of The Hashgraph Association said: “We are pleased to further empower the global Web3 gaming industry through our co-investment with Nazara Technologies in Circle of Games – the leading Web3 multi-gaming app aiming to onboard the next billion users onto the Hedera network.”

This partnership will also unlock many possibilities for COG to internationally leverage these resources through its Distribution Infrastructure Network (DIN). The DIN is a critical facet of COG’s multi-gaming platform, designed to globalize the distribution and monetization of gaming content effectively.

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About Circle of Games:

Circle of Games, headquartered in the British Virgin Islands, is a pioneering web3 multi-gaming platform founded by Rabilal Thapa (CEO), Rajeeb VC (CTO), and Rohit Tiwari (CMO). United by their visionary ambitions, they conceived a robust web3 casual multi-gaming platform. Established in 2022, the gaming app has garnered over 250,000 registered Android users, with its user base expanding rapidly. The platform is scheduled to launch its app on iOS devices by Q2. COG is driven by the vision to onboard 100 million users to Web 3 by 2026, achieved through the creation of an ecosystem featuring multiple skill-based and casual games.

About Nazara Technologies Ltd.

Nazara is India’s only listed gaming & esports company with majority ownership of several leading gaming & esports brands with presence in India, US and other global markets. In esports, Nazara has India’s leading esports platform Nodwin; and Sportskeeda / Pro Football Network in the sports media space. Nazara’s offerings across the interactive gaming segment include gamified early learning ecosystems Kiddopia and Animal Jam which are global leaders in their respective segments; India’s most popular cricket simulation franchise World Cricket Championship (WCC) and a wide portfolio of casual games distributed through telco partnerships in many emerging markets. In addition, Nazara controls Datawrkz, a digital ad tech company which supports its other portfolio companies as well as external clients for demand-side user acquisition and supply-side ad monetization services.

Nazara is an aggressive investor in the global gaming ecosystem and is on the lookout for successful and innovative brands and IPs with cutting-edge technology in the web3, Virtual Reality, and AI space

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About The Hashgraph Association

The Hashgraph Association is at the forefront of the digital enablement and empowerment of organisations through the broad adoption of Hedera-powered enterprise-grade solutions and decentralized applications, including funding training, innovation, and venture building programs globally. As a non-profit organization headquartered in Switzerland, The HashgraphAssociation supports and funds innovation, research, and development that enables economic inclusion and a digital future for all, with a positive environmental, social, and governance (ESG) impact.

For further information about The Hashgraph Association, users can visit here.

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