Share this article
Play-to-Earn Gaming Platform Vulcan Forged Raises $8M in Series A Funding
The funding round was led by investment firm Skybridge Capital.
Updated May 11, 2023, 5:53 p.m. Published Sep 21, 2022, 3:36 p.m.
Blockchain gaming studio Vulcan Forged has secured Series A funding led by SkyBridge Capital, an investment firm founded by former White House Communications Director Anthony Scaramucci.
Vulcan announced in a press release the round raised $8 million, with the option to invest an additional $33 million.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The funding is aimed at accelerating the growth of Vulcan Forged “Metascapes,” a play-to-earn immersive metaverse game that allows its users to build their own land in the metaverse and store that data through non-fungible tokens (NFT). In addition, the funding will be used to grow Vulcan’s operations in North America as well as other markets. Currently, Vulcan Forged has about 15 games and decentralized applications (dapps), with about 200,000 users.
In a statement, the founder and CEO of Vulcan Forged, Jamie Thomson, said, "As we look to expand into new markets like North America and open our office in New York City, we believe that now is the perfect time to capitalize on our momentum with a strategic investment from Anthony Scaramucci and his team at SkyBridge Capital."
Last December, hackers stole 4.5 million PYR, the Vulcan platform’s native token, which at the time was worth about $140 million and represented nearly 9% of the token’s total supply. A day following the hack, Vulcan Forged refunded the $140 million to nearly all its investors.
Read more: Vulcan Forged Play-to-Earn Gaming Platform Refunds Users After $140M Hack
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
JPMorgan Launches Tokenized Money Market Fund on Ethereum as Wall Street Moves Onchain
The $4 trillion U.S. bank is the latest financial giant in rolling out tokenized MMF onchain, joining BlackRock, Franklin Templeton and Fidelity.
What to know:
- JPMorgan Chase is launching its first tokenized money-market fund on Ethereum dubbed My OnChain Net Yield Fund (MONY), with an initial $100 million investment.
- The fund is part of a growing trend of blockchain-based financial products, with major firms like BlackRock and Franklin Templeton also entering the space.
- MONY allows investors to redeem shares using cash or USDC and aims to offer similar benefits to traditional money-market funds with added blockchain advantages.
Top Stories
