Coinbase Ventures Invests in Mobile Game Developer Bling

Bling, a mobile-game platform that allows bitcoin rewards, introduced on Friday that it closed a seed funding spherical with participation from Coinbase Ventures. 

Bling’s platform at present consists of six video games, in addition to a software program improvement package (SDK) it would start providing to different cellular sport builders that features a bitcoin rewards system, fraud detection and consumer worth detection. Bling’s bitcoin rewards system makes use of Coinbase as a cash-out mechanism, and customers should create a Coinbase pockets earlier than they will earn any bitcoin rewards. 

Amy Wan, Bling’s co-founder and CEO, instructed CoinDesk the strategic funding from Coinbase Ventures was much less about cash and extra about formalizing the partnership between the 2 corporations and guaranteeing an “open line of communication” between them. 

Gaming on-ramp

Related: CoinFund Leads $2.3M Investment in Esports Startup Trying to Bring Crypto to Gamers

Coinbase Ventures’ participation in Bling’s seed spherical is a part of a rising pattern of funding into corporations which have a consumer base that’s crypto-curious however not but crypto-savvy. 

As crypto exchanges compete for market share, newcomers to the house are a sizzling commodity. And for Coinbase, which derives most of its income via comparatively excessive buying and selling charges, it must win the loyalty of recent customers to maintain shareholders glad.

Bling progress plans

Bling will use the cash generated from the seed spherical to develop its group and make extra video games.

Wan additionally instructed CoinDesk that Bling, which at present has over 5 million registered customers, may also start promoting its video games for the primary time. 

Related: Animoca Completes Funding Round, Gets an Extra $50M From Coinbase, Samsung

In January 2020, Bling’s first sport, Bitcoin Blast, was removed from the Google Play Store however reinstated after Wan and followers of the sport took to Twitter. 

“The third-party platforms proceed to train quite a lot of affect in how crypto startups can or can’t take off,” Wan instructed CoinDesk. “With third-party platforms, there’s quite a lot of enclosed house, and there’s all the time threat. But to date we’ve been just about capable of handle all that.”

Correction (July 2, 13:51 UTC): Coinbase Ventures invested in the spherical however didn’t lead it, as was beforehand reported. The headline has been modified.

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