Category: News, NFT News

UAE’s Param Labs Raises $7M for Web3 Gaming Infrastructure

Param Labs a UAE-based gaming infrastructure developer has raised $7 million in a recent round of funding. The round was led by Animoca Brands and saw contributions from several investment firms such as Delphi Ventures, Cypher Capital, P2 Ventures (previously Polygon Ventures), Mechanism Capital, Merit Circle, TRGC Capital, Double Peak Group, and MH Ventures.

Param Labs is a solution to the current crises in the Web3 gaming field by improvising the three levels of element exchange. It gives a possibility for the developers to make use of any product they need and to get a wide selection of components to make their games. 

The availability of funds of this type will play a significant role in strengthening Param Labs’ efforts to create a gaming world solely for native PARAM tokens. This supports the general mission to open the gates to the luminary members of the gaming world to own their assets. 

Param Labs aims to ensure that both gamers and software engineers work together under the provision of the required infrastructure and tools to create more value in 2 ways.

Also read: Microsoft Web 3 Veteran Vassilis Tziokas Joins Matter Labs

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