Gujarat Magazine

Cloud Play Sports & Entertainment Platform Successfully Closes $30 Million New Funding Round

 Breaking News
  • No posts were found

Cloud Play Sports & Entertainment Platform Successfully Closes $30 Million New Funding Round

March 20
21:09 2024

CloudPlay Sports & Entertainment Platform recently announced the completion of a new round of financing of $30 million, led by Shorooq Partners, while Three Point Capital, Forte Securities, Caladan, Virtuzone, Hex Trust, Token Bay Capital, GameFi Ventures, Mapleblock, Fuse Capital, 280 Capital and many other well-known institutions.

Proceeds from this round of financing will be used in the following key areas:

Building the Cloud Play Coin Ecosystem

The new funding will accelerate the construction and development of the CloudPlay Coin ecosystem, providing more value and opportunities for users.

Build CloudPlay virtual gaming scenarios

CloudPlay will develop virtual gaming scenarios to create a more immersive entertainment experience for users

Expand the chain compliance platform

By investing new funds, CloudPlay will further strengthen its on-chain compliance platform to ensure the security and transparency of user assets.

Facilitating Collaboration with Laser Digital, the Crypto Division of Citi and Brazilian Development Bank (BNDES)

Cloudplay will conduct a proof-of-concept trial with Laser Digital to jointly explore new partnership models and technological innovations.

Building a Decentralised GPU Network and Addressing the AI Compute Shortage

CloudPlay will work to build the world’s largest decentralised GPU network to address the current shortage of AI computing resources and drive technological innovation and development.

In addition, CloudPlay will invest $50 million in the U.S. sports industry and establish an office in New York to further expand its presence in the U.S. market. Subsequently, CloudPlay will launch fan tokens with franchises from five major U.S. sports leagues, bringing more investment and engagement opportunities to users.

CloudPlay Sports & Entertainment Platform will continue to uphold the concept of “user-centred, technological innovation” to provide high-quality digital sports and entertainment services to global users, and work together to build a thriving digital sports ecosystem.

Stay tuned for more news about CloudPlay Sports!

Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

Media Contact
Company Name: YUNWAN SPORT
Contact Person: MG
Email: Send Email
State: HongKong
Country: China