Victoria, Seychelles, April 24, 2024 (GLOBE NEWSWIRE) -- StoryFire stands at the forefront of innovation, spearheading a revolutionary amalgamation of SocialFi, GameFi, and DeFi, culminating in an unprecedented all-encompassing experience. Recently, the company successfully concluded the BLAZE token investment round, securing backing from prominent entities including GDA Capital, Genesis Capital, Octavia Ventures, and TGE Ventures.
Expressing his enthusiasm, Sam Hilder, CEO of StoryFire, emphasized in a recent press release, "Closing a successful funding round amidst the prevailing macroeconomic conditions, with such esteemed partners, is indeed exhilarating. We are deeply grateful for the trust our investors have placed in us." Hilder further elucidated on the company's strategic vision, affirming their commitment to crafting the ultimate Web3 platform through the StoryFire offering, eagerly anticipating the unveiling of their latest developments.
Leading the investment consortium, Genesis Capital, a private equity powerhouse, orchestrated the funding round. The company delineated its intentions to leverage the capital infusion to propel both developmental initiatives and marketing endeavors leading up to the imminent BLAZE token launch.
In a strategic move underscoring StoryFire's steadfast commitment to the Web3 landscape, the company announced its purchase of assets from Tokens.com in February 2024, with it being that it has successfully closed the sale of Metaverse Group and Hulk Labs to StoryFire. The purchase entailed a disposition comprising a 15.3% equity stake in StoryFire, appraised at US$3.5 million, alongside an allocation of US$500,000 in BLAZE tokens. This strategic maneuver underscores StoryFire's enduring presence within the Web3 domain, as it endeavors to fortify and expand its footprint across the entire Web3 ecosystem.
About StoryFire
The StoryFire platform, powered by the BLAZE token, will revolutionising the metaverse paradigm by combining SocialFi, GameFi, and DeFi into one unified experience.
Forward-Looking Statements
This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements in this news release include statements relating to the strategic review process and the work of the Committee; whether a strategic change, transaction or any outcome will result from or be consummated or implemented as a result of the strategic review process; and whether any transaction resulting from the strategic review process, if any, will ultimately enhance shareholder or stakeholder value in the long term.
Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of cryptocurrencies. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
