HomeFundingLondon-based gaming community Fruitlab raises €1.5 million to boost its platform

London-based gaming community Fruitlab raises €1.5 million to boost its platform

Fruitlab, the Web3 social gaming platform built on blockchain that provides a universal Play-to-Earn framework for AAA games, has just secured €1.5 million in additional funding from Scytale Ventures, a leading venture capital company in blockchain investing.

Founded in 2018, Fruitlab’s mission is to provide a fair and equitable platform for players, content creators and game developers. This is achieved through:

  • Universal Play-to-Earn model enabling registered users to earn rewards while playing AAA games
  • Player funded Esports platform which allows players to compete against each other in Head-to-Head competitions
  • Content sharing platform that enables creators and viewers to monetize their intellectual property and attention from the very first view

Cameron Leslie, Co-Founder of Fruitlab, stated: “With Scytale’s investment supporting our unique blockchain-powered social gaming platform, we’re bringing together ‘Play-to-Earn’, Esports and social content, and providing rewards through our own cryptocurrency, the PIP. We believe Fruitlab Gaming enhances the users experience and brings a whole new dimension to what are already incredibly popular and successful games.”

Mark Cachia, CIO/Founder of Scytale Ventures, added: “Gaming is one of the sectors that is benefitting greatly from blockchain tech. Fruitlab is positioned perfectly in this space and fits in extremely well with the goals of our fund. We’re very excited to be investing in and working with the team.”

Nearly 700,000 users around the world use Fruitlab, either on web or mobile app.  Built as a plug and play dApp, there is no behavioral change for the player as it runs in the background and updates rewards instantly. With this immediacy, users begin enjoying the benefits of PIPs that are available for trading in the Fruitlab Marketplace. Once the PIP is a listed token it will be able to be traded for other crypto or fiat currencies.

Based in London, UK, with employees throughout the world, Fruitlab’s registered users, mainly from the Americas and Europe, total nearly 700,000 with over 2 million videos uploaded and 10 billion+ views recorded.

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Thomas Ohr
Thomas Ohr
Thomas Ohr is the "Editor in Chief" of EU-Startups.com and started the blog in October 2010. He is excited about Europe's future, passionate about new business ideas and lives in Barcelona (Spain).

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