DMarket Secures USD 6.5 Million in Venture Financing

By StartUp City | Tuesday, June 30, 2020

With the help of DMarket, game developers, players, influencers, and brands can co-create video game content securely and generate profit while playing and having fun in different gaming multiverses

Fremont, CA: In-game item trading platform and monetization technology for game developers, DMarket, successfully closed USD 6.5 million in a venture funding round led by Almaz Capital, with support from Xsolla. Almaz Capital has been previously involved in high profile deals like Yandex, IPO NASDAQ, QIK, sold to Skype, Sensity Systems, sold to Verizon Communications, and Acumatica, sold to EQT. DMarket will use the proceeds from the investment round to expand into further developments surrounding the in-game ecosystem.

"There has never been a better time for technology and gaming. We built DMarket with a particular future in mind, and that future is now. Validating our position in the market is this tremendous investment, one which we are so thankful for, and mentorship and leadership from the renowned Trip Hawkins - along with overall support from 15 Most Promising Gaming Technology Startups - 2018our community," said Vlad Panchenko, CEO and Founder at DMarket. "The abilities of in-game content will become a crucial part of the new gaming worlds, which is why we are creating a suitable and transparent ecosystem for them." With the help of DMarket, game developers, players, influencers, and brands can co-create video game content securely and generate profit while playing and having fun in different gaming multiverses.

Along with the investment round, the company also announced the joining of Trip Hawkins as an independent board member. He is the founder and CEO of Electronic Arts, 3DO and Digital Chocolate. "I love that DMarket is at the intersection of five growth trends in the game industry: advanced social games, virtual goods trading, fashion, eSports, and blockchain. DMarket has a big opportunity to be a new kind of leader in the game industry. They have the leadership, ideas, and resources to succeed, and it is fun for me to help a talented executive like Vlad," said DMarket's new board member Trip Hawkins. "DMarket is a pioneer in the open market trading of game-related virtual goods, a market that will explode in the next decade."

In these uncertain times of pandemic and economic crisis, DMarket is eager to create a virtual economy, allowing the ability to develop and grow businesses for billions of people not only in the gaming industry worldwide.

See also: Top Gamification Solution Companies

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