RACA is a web3 startup that operates in the web3 gaming ecosystem where it develops decentralized gaming applications. The firm provides a metaverse platform with game studios that are governed by a community-driven decentralized autonomous organization (DAO). The ecosystem connects a large number of experienced development teams, hundreds of volunteers and a large gaming fanbase. The platform has a digital token, Radio caca that retails at $0.000229 that has managed to accumulate a trading volume of over $7 million in the past 24 hours. The firm is aiming to become a larger web3 gameplay environment
Consequently, RACA has secured a $16 million investment from DWF Labs to bolster its efforts in developing a web3 game ecosystem. According to reports, DWF Labs’ agreement to invest in RACA includes a commitment to purchase back a number of RACA tokens. The firm has however not revealed the nature of this fundraising round or the current market valuation owing to the conclusion of the event.
Web3 gaming is a relatively new business that utilizes leverages blockchain technology to deliver decentralized gaming that offers infinite possibilities including new income streams fast speeds, security and immense compute power as well as a chance to rack up digital collectibles like digital derivatives or NFTs. This gaming technology offers a new experience that is an uplift from the conventional gaming platforms. Decentralized gaming allows developers to develop games that allow gamers to own and manage their own in-game assets that can be exchanged while at the same time creating an economic-gaming ecosystem that makes the gameplay fun and engaging. This technology also provides a more visible and and secure environment for gamers due to the extra openness and security provided by blockchain technology.
It is important to note that DWF Labs has been making a streak of investments on crypto firms developing web3 solutions for common problems across multiple industries. The recent investment from DWF Labs indicates that RACA’s idea of for the future of web3 gaming is gaining traction in the investor community. It also shows the potential of web3 technology in creating open gaming platforms.
RACA was formerly known as Radio Caca and it began with curating Elon Musk’s mother NFT library into a blockchain game environment. The firm has already introduced R3 game infrastructure, a sim-city influenced sandbox game, DID wallet and an NFT marketplace among other products. The firms token price has gone up by 25% in the last 24 hours of trading.
