Coinsilium Group Ltd backs pre-seeding round for Latin America-focused gaming hub

Coinsilium Group Ltd (AQSE:COIN, OTCQB:CINGF) has entered into a Simple Agreement for Future Tokens (SAFT) pre-seeding round for GGS.io and become an advisor to the Delaware-registered company.

GGs.io aims to build Latin America’s first blockchain gaming hub while promoting web3 education and social mobility.

Under the terms of the SAFT, Coinsilium will purchase US$100,000 of future GGs.io tokens, the utility token of the GGs.io gaming ecosystem.

The GGS.io platform ushers web2 gamers into web3 by providing practical blockchain education and matching them with top-earning opportunities with guilds, web3 e-sports organizations and game publishers, said Coinsilium.

Eddy Travia, Coinsilium’s chief executive, added: “One of the earliest and better-known successes in blockchain gaming and Play-to-Earn (P2E) has been A16Z-backed Axie Infinity which peaked at 2.7 million daily active users in November 2021.

“Despite AXS lower performance today, there are clear similarities between Axie Infinity’s original market – Southeast Asia and mainly The Philippines – and the Latin American or ‘Latam’ market.

“Due to these similarities, it is our view that Latam has the potential to become a major blockchain gaming market in the future. GGs.io is not tied to a specific game and aims to replicate the popular gaming guild’s model in its target market.

“We are therefore very excited to participate in this pre-seed round for GGs.io and to be advising their highly experienced team.”