Glip Secures Funding For Its Web3 Game Discovery Platform

Bengaluru-based Web3 game discovery platform and wallet app Glip has secured $2.5 Mn in a funding round led by Hashed Emergent, with participation from BEENEXT and existing investor Prime Venture Partners.

Glip will be deploying the funds to expand its team, launch new product features and grow its community globally.

With the latest fundraise, Glip has secured a total of $6 Mn in funding through various rounds, with backing from Prime Venture Partners, Better Capital, iSeed and various angel investors. Earlier this year, the Web3 startup raised $3 Mn in a funding round.

Founded in 2020 by Parth Choudhary and Ishan Shrivastava, Glip has built a game discovery platform, like a Web3 equivalent of the popular game discovery platform Steam. The app has more than 7 Mn downloads across geographies including India, Southeast Asia, Brazil and others.

With Glip, gamers can discover new web3 games, watch tutorials and participate in tournaments and quests via the app. The Web3 app has signed up games such as Axie Infinity, League of Kingdoms and KOF Arena by Netmarble to boost user acquisition and engagement.

Users also get a social login, non-custodial, multi-chain, gasless wallet as soon as they log in to the app. These wallets store the crypto holdings of the users on EVM Chains such as Polygon and Solana. 

Talking with Inc42, Shrivastava, who is also the COO at Glip, noted that the wallet is simple and based on a Google-linked login. This means that a user does not require to do seed phrase management at their end to access their cryptocurrency holdings.

On the developers’ side of things, Glip allows Web3 game developers to monetise their games by allowing them to list them on its platform and onboard users. Glip claims to have 2 Mn+ monthly average users (MAU) and around 200K daily average users (DAU) on its platform.

Speaking on the same, Glip CEO and founder Parth Choudhary said, “With $10 Bn already deployed, Web3 games are increasing rapidly and getting better by the day, but they are all struggling with user acquisition on web2 platforms. Our mission is to build the world’s largest Web3 gamer platform.”

Tak Lee, managing partner at Hashed Emergent said, “The team at Glip has built a seamless platform to solve for both. We are impressed by the team’s agility, foresight and speed of execution, and are excited to partner with them on their journey to build the ‘Steam’ equivalent for Web3 games.”

India’s gaming ecosystem is still in its infancy, however, the country yet has one of the largest gaming populations in the world. As the online gaming industry is estimated to touch the $2.8 Bn mark by 2022, according to a Deloitte report last year.