GameStake Technologies raises £630,000 in seed funding for “rewarded play” gaming
UK-based GameStake Technologies, a company dedicated to rewarded play through gaming apps, has successfully raised £630,000 ($808,000) in seed funding to support its growth. GameStake Technologies focuses on building gaming apps with a unique loyalty program that offers players real-life, non-monetary rewards, such as discounts on shopping. The company has also secured a "growth facility" of £2.5m from game finance company Triple Dragon.
Having already acquired over 50,000 users for its first app, GameStake Technologies has formed strategic partnerships with prominent companies like Uber and Amazon. The successful funding round has led the company to rebrand as GameStake Technologies and launch "GameStake for Business." This new initiative aims to collaborate with other companies and help them grow by integrating their services into the GameStake platform.
Amit Puri, the CEO of GameStake Technologies, expressed excitement about the investment and the significant milestones achieved during the fundraising round. The company's strong user growth, engagement, and strategic partnerships reaffirm its position as a key player in the startup space, motivating them to continue disrupting and innovating while providing exceptional value to their users.
The concept of rewarded play and loyalty programs has proven effective in building a loyal user base in the gaming industry. Platforms like Playstudios have successfully utilized loyalty programs to reward long-time users and offer real-life incentives, similar to supermarket loyalty programs.
Building a successful platform for rewarded play involves providing valuable rewards with recognizable brands that resonate with the players. GameStake Technologies seems to have a solid footing in this regard, attracting users with appealing rewards and partnerships.
In the mobile gaming industry, finding new methods of monetization, such as rewarded play, has become a priority as developers and publishers navigate increasing restrictions on attribution that make in-app advertising more challenging. Other companies, like Bidstack, are exploring the concept of intrinsic advertising to integrate ads seamlessly into the game world, making them less obtrusive and more engaging for players.
Source: Iwan Morris, Staff Writer at PocketGamer