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Industries
Consumer Software
Crypto & Web3
Company Size
51-200
Company Stage
Seed
Total Funding
$5M
Headquarters
Dubai, United Arab Emirates
Founded
2023
Blum provides a decentralized exchange platform that enables efficient cryptocurrency trading through an off-chain orderbook and on-chain settlement. Users can connect popular wallets like Trust Wallet and MetaMask to execute trades in a single transaction, avoiding gas fees and chain switching. The platform also supports localized P2P trading and offers a unique trading experience via Telegram, making it mobile-friendly and engaging. Blum aims to simplify the trading process for users interested in decentralized finance while generating revenue through transaction fees.
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Total Funding
$5M
Above
Industry Average
Funded Over
1 Rounds
Industry standards
Flexible Work Hours
Unlimited Paid Time Off
Remote Work Options
Professional Development Budget
Dubai, UAE, February 27th, 2025, ChainwireFuntico’s Chief Product Officer, Pavel Antohe, took center stage at AIBC 2025 in Dubai, participating in the high-profile panel ‘PLAY-TO-EARN: THE BEST STRATEGIES FOR DECENTRALIZED PLATFORMS AND SOCIAL MEDIA.’ Joined by Sam Shami of Cointelegraph and Gleb Kostarev of Blum.io, the discussion delved into the evolving landscape of Play-to-Earn (P2E) gaming and its future sustainability.Navigating Challenges in the Play-to-Earn SpaceThe P2E sector has faced significant turbulence, with over 30% of blockchain gaming projects either discontinued or cancelled in 2023. Many projects struggled with sustainability, user retention, and economic balance, leading to a critical reassessment of the strategies needed to ensure long-term success. Amidst these setbacks, Pavel Antohe shared valuable insights on the importance of community engagement, asset ownership, and hybrid approaches bridging Web2 and Web3 as key drivers for the industry’s revival.The Path Forward: Merging Web2 and Web3 for Sustainable GrowthRecognizing these challenges, Antohe highlighted that the key to revitalizing the sector lies in a more structured and adaptable approach. During the panel, he emphasized that the next wave of successful P2E games will depend on:Stronger Community Engagement: Building trust through meaningful interactions and incentives.Building trust through meaningful interactions and incentives. True Digital Ownership: Ensuring players have full control over their assets to foster long-term investment.Ensuring players have full control over their assets to foster long-term investment. Hybrid Integration: Merging familiar Web2 experiences with the advantages of Web3 decentralization.By combining these elements, developers can create more sustainable ecosystems that attract both traditional gamers and blockchain enthusiasts, bridging the gap between Web2 and Web3 gaming.Funtico’s Vision for the Future of Web3 GamingFuntico remains committed to innovating and shaping the future of decentralized gaming
UAE-based fintech Blum raised $5 million in a pre-seed and seed round.
Blum, a Telegram-based decentralized exchange, raised $5 million in a funding round led by gumi Cryptos Capital, with participation from Spartan, OKX Ventures, and others. The funds will enhance Blum's trading platform, including multichain support and expanding its trading bot, which has over 1 million users. Blum's transition from a tap-to-earn to a trade-to-earn model aims to maintain user engagement amid declining interest in tap-to-earn games.
On February 13th, Telegram ecosystem trading app Blum completed a $5 million Pre-Seed and seed round financing, led by gumi Cryptos Capital, and participated in the investment by YZi Labs, The Spartan Group, No Limit Holdings, OKX Ventures, The Open Platform, Bitscale Capital and Wintermute Ventures.
Leading crypto exchange Binance has announced that it has invested in Telegram’s mini crypto-trading app Blum as a MVB winner.
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Industries
Consumer Software
Crypto & Web3
Company Size
51-200
Company Stage
Seed
Total Funding
$5M
Headquarters
Dubai, United Arab Emirates
Founded
2023
Find jobs on Simplify and start your career today