Web3 company RACA has secured $16 million in funding from DWF Labs, a market maker and investment firm. The investment also involves DWF Labs purchasing an unspecified quantity of RACA tokens.
Initially managing Maye Musk’s (mother of Elon Musk) NFT collection, RACA has now transformed into a blockchain gaming ecosystem that’s reminiscent of Steam. The Web3 company will use its newly secured funding to further prioritise becoming an expansive Web3 gaming ecosystem.
RACA has so far launched a game infra, SimCity-esque sandbox game USM.WORLD, social party game Looki Looki Jazzi, cross-game DID wallet JAZ and an NFT marketplace.
DWF Labs on the other hand has become one of the most dynamic investors lately with impressive funding activities like raising $20 million for derivatives trading platform Synthetix, and also securing $40 million for Fetch.ai, a crypto protocol that focuses on AI.
“Our investment in RACA is a testament to our belief in USM.World’s potential to reshape the gaming landscape,” said a representative from DWF Labs. “We’re thrilled to support their efforts in building a diverse and inclusive Web3 gaming ecosystem that offers immersive experiences to users worldwide.”
Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.
