Souq G-Commerce
Supporting player-owned game economies.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
* | $3.3m | Seed | |
| Total Funding | 000k | ||
Souq G-Commerce, Inc. operates as a digital asset tokenization and investment platform, founded in 2021 by Ken Berkowitz and JonPaul Vega. Positioned at the intersection of video games, economics, and cryptocurrency, the company is developing financial markets focused on Web3 game economies. The firm's inaugural product is a portfolio manager that enables players to track and monitor the value of their gaming assets. This tool provides insights into the health of the game economies they participate in and works across various blockchains and wallets, centralizing performance tracking of these digital assets.
The company's business model centers on being an investment platform. It facilitates the deployment of holder assets to foster growth in game economies and generate yield by connecting digital assets, such as cryptocurrencies and NFTs, to its platform to operate yield pools. Souq G-Commerce targets the emerging industry of Web3 open economy games, aiming to build a pathway for players to become shareholders in the games they enjoy and participate in the economic upside of these virtual worlds. The market for virtual goods in gaming is substantial, with billions spent on digital items that players do not traditionally own, representing a significant market opportunity as gaming moves towards Web3 open economy models.
In June 2022, Souq G-Commerce successfully raised $3.3 million in a pre-seed funding round. This capital was earmarked to expand its flagship product for managing and tracking blockchain game assets. The round saw participation from a diverse group of investors, including Kickstart, IVC, Operate, Moon Holdings, and others. At the time of the funding, the company was valued at $66 million and was noted to have offices in New York City and Miami. JonPaul Vega serves as the CEO of the company. According to some records, the company is listed with a 'Deadpooled' status as of late 2022.
Keywords: Souq G-Commerce, digital asset tokenization, Web3 gaming, portfolio management, blockchain game assets, NFT tracking, game economies, crypto gaming, virtual goods, JonPaul Vega, Ken Berkowitz, digital portfolio management, play-to-earn, investment platform, yield generation, game finance, blockchain gaming, open economy games, NFT investment, digital asset tracking