Colizeum, a blockchain-based mobile gaming ecosystem from Beetroot Lab founders, raises $8.4M

Colizeum, a creator of a set of blockchain tools for mobile game developers, has raised an $8.4 million seed investment. The round was led by Deribit, SevenX Ventures, Axia8, LD Capital, Genblock Capital, and ZBS Capital, the company says on its Medium blog.

• Colizeum was founded in 2021 by Davis Ziedins and Edgars Vecozolins, the founders of Latvian mobile game developer Beetroot Lab.
• The company offers a set of blockchain tools for mobile game developers that will allow them to broaden their monetization options, combining traditional monetization methods with the new possibilities provided by blockchain technology. 
• As a software development kit solution, any game developer can integrate these features regardless of their knowledge of blockchain development. 
• Besides the leading investors, other participants of the round included TPS Capital, Momentum 6, DWeb3, X21 Digital, Profluent Ventures, Good Games Guild, CRT Capital, AU21 Capital, Pluto Digital, Basics Capital, and Tokenomik.
• Additionally, Colizeum welcomes one of the world’s most-awarded DOTA players to its team — Sheng Wu. 

“Our mission is to build a set of tools that lets any traditional game developer broaden their game monetization methods by implementing tokenized games modes and P2E economies in their existing and future games and at the same time unlock new gaming markets,”

Davis Ziedins, co-founder of Colizeum, shares the company’s goals.

• The funding will help the company launch its product in the gaming markets and conduct beta-testing of its solution.