With Q2 now underway, AGV continues to invest in high-conviction opportunities that align with our expanding investment thesis. Read on to learn more about what we have been up to in the past weeks.
Latest Investment: Chance - A Superapp for Trading Card Game Collectors
Build for the thrill and you get a moment. Build for the collector and you get them for life
That’s the line we at Arbitrum Gaming Ventures kept coming back to during our diligence on Chance, and it is the best way to describe the next chapter for TCG platforms. In the past few years observing this space, the category has grown massively and the unit economics have surprised many, but one thing has become clear: the moat lies not in breadth but in depth
While most are building horizontally with more drops, more categories, more boxes, Chance is building vertically, for the collector, with gacha serving merely as an entry point. What sits behind is a gamified social layer that we believe compounds over time, because collecting has never just been about what you own. It’s about who you share it with, and how you grow into it over time
From the investment press announcement:
“Chance Studios has raised $3.2 million to build what it calls a superapp for trading-card-game collectors, starting with Pokémon. The round was co-led by Makers Fund and Hashed, with participation from Arbitrum Gaming Ventures, Gam3Girl Ventures, and Digital Elm. The mix of backers signals a growing belief that collectibles are shifting from simple marketplaces into full-stack platforms that blend commerce with community.”
Read more here Chance raises $3.2M to build a superapp for Pokémon TCG collectors, blending trading, liquidity, and social community - Tech Startups
Portfolio Updates
Coverd Breaks the Top 100 in Apple’s App Store
Albert Wang, founder of financial application Coverd, recently tweeted that Coverd has entered the top 100 chart on Apple’s App Store for “Top Downloaded” apps in the category of Finance.
Thanks for your continued support as we strive to establish Arbitrum as the leading ecosystem for web3 entertainment, gaming, and consumer applications. We look forward to sharing more in the coming weeks; feel free to reach out with any questions or comments.