Soulbound Secures $4 Million to Revolutionize Web3 Social Gaming

Soulbound, a pioneering web3 social gaming ecosystem, has successfully raised $4 million in its latest funding round, which concluded in Q2 2024. This significant investment is aimed at advancing Soulbound's mission to empower the new creator economy through a seamless integration of GameFi and SocialFi, ultimately redefining the digital gaming experience.

The funds will be utilized to forge new gaming partnerships, enhance social interactions, and expand streamer bounties and social questing initiatives. Since its launch, Soulbound has experienced a 300% growth in its team, encompassing engineering, business development, and community-building resources. Notably, the platform is in the process of implementing a Twitch live-stream integration for partnered games and continues to refine the user experience. The Token Generation Event (TGE) is anticipated for H2 2024, with additional applications set to debut in Q3.

Soulbound aims to capitalize on the gaming industry’s rapid growth by onboarding a new generation of players, streamers, and creators into the web3 gaming space. Users can earn non-transferable DRIP tokens for their engagement with Soulbound and its partnered games, showcasing their gaming achievements linked to their unique identities.

The platform introduces innovative social gaming elements such as gameplay videos, Twitch clips, and community “vandalism” interactions, where users can place stickers on others' posts. Streamers and creators will benefit from new revenue channels through streaming bounties and a sticker marketplace for artists and collectors. To date, users have applied over 25,000 stickers from 150+ artists on the platform.

Moreover, Soulbound extends its reach into the B2B sector, enabling game studios to leverage its platform for user acquisition and interaction through streamer bounty pools, featured quests, and targeted promotions based on data-driven profiles and user-generated content.

Currently, Soulbound is onboarding five new games per week and has hosted streaming activations with titles such as Shrapnel, Parallel, and Nifty Island. These initiatives have attracted over 200 players and amassed over 50,000 minutes of streamed content across the Soulbound network.

“Gaming is no longer a solo experience,” said A.I. Mansbridge, co-founder of Soulbound. “Game studios, gamers, and streamers want to reach new audiences. Soulbound is a bridge for traditional gamers, streamers, and game studios to the expansive blockchain gaming space.”

Co-founder Casey Grooms added, “Gamers, streamers, artists, and developers are tired of the gaming status quo. Soulbound is building a social platform that shakes up the traditional community interaction model. With support from our investors, we will deliver a first-of-its-kind avant-garde social gaming experience.”