Web 3.0 incubator iBloxx has raised $5m in a funding round led by fintech firm PrimeXM.
The funds raised will help expand the company’s gamefi division alongside developing its Dubai-based web 3.0 arm, iBloxx Studios.
The company specializes in creating games built on the blockchain using the real-time 3D creation tool Unreal Engine and the DEX Unity Protocol.
The firm plans to create trading-related blockchain applications and develop gamefi economy health-and monitoring solutions.
The new funding provides an avenue for iBloxx to boost its game offering and extend its reach across the crypto gaming market.
iBloxx CEO Domenik Maier said: “PrimeXM, who is amongst the world’s leading providers for foreign exchange and cryptocurrency trading solutions, caters to some of the industry's largest players, such as Saxo Bank, IG, Equity.com, SwissQuote or OKCoin.
“Their decision to invest in iBloxx is a testament to their unwavering confidence in our company's potential for growth.”
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