Web3 game distribution platform Oncade have announced a $4 million USD raise – led by a16z crypto – to fund the development of a sales funnel that will better connect game developers to their fans.
Their platform intends to eliminate the “30% platform fees” that are endemic of the current landscape of video game distribution solutions, allowing game developers to launch their own branded stores, leverage their community, and receive near-instant payments in stablecoin.
Few details have been shared on when Oncade is expected to launch – although they have suggested that they are open to “helping out” with Web3 RPG Wanderers ongoing WanderVibe contest on the game creation front.
Key Insights
- Oncade have raised $4 million USD towards development of their Web3 game distribution platform
- The platform aims to give game developers a better way to sell their games to their fans
- Studios will be able to create their own storefronts, and eliminate the “30% platform fees” of existing stores
- Players will be able to purchase games using stablecoins, with near-instant payments to developers
- Details on when Oncade will launch have yet to be released
What is Oncade?
Oncade is an upcoming Web3 game distribution platform, catering to the needs of game development studios.
The Oncade platform allows studios to create their own branded storefronts and sell their games directly to players, leveraging fan interest to drive sales to their titles. The platform includes support for affiliate communities and user-generated content systems, with creator payouts built in.
Oncade also allows for integrated in-game items stores, giving developers a simple solution for enabling digital asset trading within their titles – including support for Battle Passes on top of in-game items.
The team behind Oncade – including Stavros Lee, Greg Reisdorf and Jared Yeager – has “over 40 years of experience in the gaming industry”, including games such as Call of Duty, and brands such as Razer and OUYA.
Details on a launch date for Oncade have yet to be released, with news of this raise coinciding with their public emergence.
How will Oncade utilise these funds?
Oncade will use these funds to supercharge the development of their platform, expanding their reach and speeding up their prospective launch.
Features that are currently in the works include a community marketplace, an affiliate system that allows developers to reward user-generated content, and general improvements to platform infrastructure.
A pilot program for Oncade is in the works, with Reisdorf encouraging interested game developers and content creators to reach out for further information.
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