Cross The Ages raises $3.5 million and announces the listing of its token

Wednesday, May 15, 2024

With this round of funding, the company aims to continue developing the brand around the Cross The Ages universe through the release of new Web3 games, as well as a TV series, comic books and a second novel.

Despite a volatile market that is still struggling to take off again in earnest, some Web3 projects are not experiencing a crisis, and Cross The Ages is one of them.

The Web3 game co-founded by Richard Estève and Sami Chlagou has completed a $3.5 million Series A round led by Animoca Brands, one of the largest investment funds in the sector, which has already invested in nearly 400 start-ups in the sector. Sébastien Borget (The Sandbox) and Nicolas Jeuffrain (Tenergie) also participated in the round. Until now, the company has been wholly owned by its two co-founders.

This equity fundraising comes on top of the nearly $20 million previously raised via the CTA, the project's native token which is listed for the first time on exchange platforms from Wednesday. These include Bybit, Kucoin, Gate.io, MEXC, HTX, Poloniex and on decentralised exchange platform Uniswap.

Created in 2020, the company launched its first game based on cards represented as NFTs (Non-fungible Token) in the first quarter of 2023. Today, the game has almost 400,000 downloads and 150,000 monthly active users.

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Becoming a brand

This injection of new money should enable the Marseille-based company to launch a second Web3 game and continue to develop the brand around the Cross The Ages universe via the release of comic books and a second novel, which is scheduled for release, is scheduled for release in October. An audiovisual series is also in the pipeline, due for release in 2027.

"From the outset, we wanted to create a brand around the world of gaming. Web3 enabled us to federate a community very quickly," Sami Chlagou tells The Big Whale. "We managed to generate significant revenue and become profitable very quickly," he adds.

Currently, the company has 85 employees, including 75 in France. It already had an office in Dubai and opened a new one in Tokyo last month.

"While more than 60% of our users are European, almost 20% are located in Japan. Globally, we have big ambitions in Asia but also in the Middle East where Web3 has been developing exponentially in recent months", Sami Chlagou ambitions.

This analysis is not investment advice. It has been prepared without taking into account your personal situation, particularly your financial situation, risk profile, and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial, and accounting advisors.

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