Announcing our $3.3M Pre-Seed Raise

Souks (/so͞ok/) represent one of the oldest forms of free markets, playing an important role in early commerce and economic development throughout the Middle East, Europe, Africa, and Asia. This concept is at the heart of what we are building at Souq; the first financial markets focused on open game economies. Gaming is the largest global artform, category of entertainment media, and arguably virtual commerce, with $180B spent in 2021. To date, the builders and players that make up these communities have had limited opportunities to share in the upside of the economies they create.

The next evolution of the internet upgrades the value proposition for these participants, allowing games to break up the constituent parts of their economic value, currency and goods, into rewards for the labor that turns these experiences into cultural movements. Souq exists to help players not only become owners of the games they love, but also take an active role in shaping and growing these virtual economies. To that end, we are announcing our $3.3M pre-seed raise along with the beta release of our Portfolio Manager for Web3 game assets. The round was led by Kickstart and Infinity Ventures Crypto (IVC), with participation from Operate, Moon Holdings, Ellipti Ventures, Perpetual Value Partners, Himanshu Sahay & Partners, Sterling VC, Evernew Capital, BBQ Capital, Mike del Balso, Chris Chang, BlockØ, Aleph One, Gautam Shah, and Miko Matsumura.

To the players: with Web2 you got entertainment value; in Web3 you get entertainment plus ownership – this is a fundamental improvement to your rights and value proposition. We are here to help you navigate this new paradigm, learn more at Souq.gg.

To the game builders in the space: we are here to support you, your economy, and your players. Let’s make this ecosystem successful together, our DMs are open.