Social media platform Hike bags funds To Build Its Web3 Gaming Platform ‘Rush Gaming Universe’

• ByStartupStory     |    May 7, 2022

Social media platform, Hike has raised an undisclosed amount of investment from Republic Crypto, Jump Crypto, and Tribe Capital for its web3 gaming platform, Rush Gaming Universe (RGU).  The fresh funds will mainly be used to develop RGU’s product strategy and hire new talents across verticals.

As part of the new deal, the three investors will contribute to the building of RGU as a web3 gaming platform. Republic Crypto will act as a token advisory and sale partner, while Jump Crypto will be serving as the market maker to help RGU navigate exchanges. The investment comes months after Hike raised an undisclosed investment in January 2022 from Ethereum layer two startups, Polygon.

As per the deal, the two companies collaborated on transforming Hike’s Rush Gaming Universe from web2 to web3 technologies.RGU is essentially a play-to-earn gaming platform where players can participate in the games and also generate digital assets based on the outcome of the game played. Players are also provided with the option to own the networks and economies they create. The official website states that RGU holds more than $90 Mn annual winnings and more than 160 Mn gameplays in a quarter.

Hike was founded in 2012 by Kavin Bharti Mittal. The messaging platform has offered various services, including wallet, Hikeland, Hikemoji, cricket scores, and horoscope, among others. Hike joined the unicorn club after receiving an investment worth USD 175 Million in 2016. It counts Tiger Global, SoftBank, and Foxconn as its investors.

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