RALEIGH,
N.C., June 19, 2024 /PRNewswire/
-- Megamod, a massive multiplayer gaming platform, has
raised $1.9 million at a
post-money valuation of $27
million. The funds will be used to support the company's
go-to-market strategy, including testing a retention and
monetization model.
The round was led by investors and funds with deep backgrounds
in business and entrepreneurship including Xsolla's founder
Alexander Agapitov and his family fund Hand of Midas, as well as
Rubylight Fund and other private investors.
Megamod is a UGC platform designed for creators with limited
development expertise and players seeking massive multiplayer
experiences.
Launched in early 2023 to make game design tools easier to
use, Megamod has proven its ability to create games
200-300 times more cost-effectively and faster than any
traditional development company. The cost of creating a unit of
content on the platform is approximately $5. For the last 6 months Megamod has
networked over 2,000 creators who have created over
60,000 games.
In a world where games are becoming plentiful, the main
challenge for publishers is to keep players engaged by providing
them with engaging and accessible content. Megamod is
demonstrating its ability to meet this challenge, as evidenced by
its listing on popular gaming portals like Y8 and CrazyGames. In just two weeks on
CrazyGames, Megamod's games have been rated 8.8 based on
over 21,000 reviews and have been enjoyed by over
340,000 players.
The availability of the games is also ensured by our Megamod app
(MegaBit) which focuses on retention and social interaction.
Megamod's multiplayer capabilities allow thousands of players to
interact spend time together. The platform provides robust web and
mobile crossplay, which has already resonated with hundreds of
streamers who have been raffling off prizes and playing game
shorts, (games excerpts with a 30-second time limit), alongside
their audiences.
Megamod is the only UGC platform with game creators at its
heart. Frequently in the game industry, the role of the creator is
forgotten. Games are often seen as a product of a company rather
than a reflection of the creator's vision. Megamod aims to change
this by showcasing the creators of each single game and
demonstrating that, in the age of AI and simplified tools,
releasing the final product is a matter of hours, not months or
years.
CONTACT: Georgy Pulyaevsky, pr@megamod.io
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SOURCE Megamod