Steve Cohen-Backed Firm Invests $10M in Web3 Game Marketplace AQUA

The hedge fund billionaire has invested in crypto projects since 2018.

AccessTimeIconSep 28, 2022 at 2:00 p.m. UTC
Updated May 11, 2023 at 5:52 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

AQUA, a Web3 community platform for gamers, has launched its flagship marketplace for trading in-game assets. The startup also announced a $10 million investment from DIGITAL, an investment firm backed by Steve Cohen. The hedge fund billionaire owns the New York Mets baseball team, oversees Point72 Asset Management and has invested in crypto since 2018.

Web3 game assets are typically non-fungible tokens (NFT) that allow players to take items like weapons and armor into the ecosystems of other games. The AQUA marketplace provides a community-driven place for players to buy and sell those assets.

  • Earn Alliance CEO on Helping Gamers Discover Web3
    17:22
    Earn Alliance CEO on Helping Gamers Discover Web3
  • Web3 Gaming Market Still Growing in 2023: Game7 Data
    01:21
    Web3 Gaming Market Still Growing in 2023: Game7 Data
  • State of Web3 Gaming in 2023
    08:11
    State of Web3 Gaming in 2023
  • Metaverse-Focused Gala Games to Airdrop Version 2 Tokens in May
    05:55
    Metaverse-Focused Gala Games to Airdrop Version 2 Tokens in May
  • The blockchain-agnostic AQUA marketplace will highlight featured games and already has partnerships with three titles, including God’s Unchained and Guild of Guardians. New titles will be added every month.

    “You can definitely go to OpenSea or a general purpose marketplace and purchase gaming assets,” AQUA CEO Sean Ryan said during an interview with CoinDesk. “But we want gamers who are interested in, ‘How do I play this game? What do I do with these assets? How do I find other people to play with?’”

    AQUA was founded by gaming industry veterans Ryan, who formerly headed games partnerships at Facebook, and John Cahil. The duo previously co-founded Meez, an early take on the metaverse that launched in 2008.

    “Gaming is going to be the primary venue for the next 300 million people to get into Web3,” said Ryan. “Gaming is the biggest, fastest-growing media on the planet and has some pretty technically adept folks who can put up with some of the friction that we see right now if they're really excited about the game.”

    CORRECTION (Sept. 28, 16:15 UTC): A previous version of this story inaccurately stated that AQUA is built on Immutable X.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.