VCGamers Secures 37.3 Billion Rupiah Funding, Introducing Social Commerce and NFT for Games
It is claimed to reach valuation at $20 million; supported by BEENEXT, Rans Ventures, and a number of angel investors
Randi Eka - 7 January 2022
VCGamers is a social commerce platform for gamers. The company recently announced to reach a $20 million valuation or equivalent to 287.4 billion Rupiah. Previously, in mid-2021, VCGamers has secured a $2.6 million seed funding or equivalent to 37.3 billion Rupiah, led by BEENEXT and Rans Ventures - the venture capital unit owned by celebrities Raffi Ahmad and Nagita Slavina.
A number of angel investors participated in the funding, including Ari Fadyl (Google APAC's executive) and Jerry Soer (VP of Collab Asia).
"VCGamers aims to become an all-in-one home and platform for gamers, and to provide economic empowerment for small businesses and entrepreneurs in the gaming ecosystem. We are fully committed to building a platform that can serve the needs of all gamers in Indonesia and the region," the Co-Founder & CEO, Isya Sony Subrata said .
Isya founded VCGamers along with Hartanto, Ibnu Anggara, and Wafa Taftazani. Wafa recently announced his new startup Upbanx has received $5.2 million and currently participating in the Y Combinator program. He was previously known as the founder of Modal Rakyat and also an angel investor for several startups.
After the funding, VCGamers will accelerate product development, grow the business, and plan to expand into Southeast Asia. VCGamers is currently under PT Sotta Teknologi, with its headquarter in Bekasi, West Java.
Currently they offer services through a web platform. The game players can buy and sell various items/assets/currencies used in a gaming ecosystem. Developed as a hub, VCGamers allows users to connect with each other, including hosting events such as tournaments or creating an esports team.
Entering the NFT ecosystem
Furthermore, VCGamers will enter the Web3 game. Today (07/1) they will conduct a debut offering for the VCG token which will later become one of the transaction support assets in the social commerce. In addition, VCG is designed to revive the NFT gaming ecosystem, including for trading game items and assets. Its total supply reaches 100 million, operating on top of the Binance platform.
A social commerce-based approach is considered relevant to animate transactions in the gaming business.It is due to many items are obtained by individuals – and can be traded to other users. VCG can provide support for a better transaction process, especially if it succeed in penetrating the regional market – especially for cross-border transactions which is more affordable.
In the area of asset and gaming item marketplace, VCGamers is not a solo player. There is also itemku which is also Bukalapak's subsidiary. The market value of the gaming industry in Indonesia is projected to reach 24.4 trillion Rupiah last year. It is projected to continuously increase as more mature business models are applied to the business ecosystem -- particularly driven by the development of esports businesses.
–Original article is in Indonesian, translated by Kristin Siagian