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A November 15, 2024 press release says Nexgen Entertainment Inc. secured a $10 million private funding round led by NewTribe Capital to expand Epic Ballad. The announcement does not independently verify that the financing closed, and its stated plans for the money are intentions—not confirmed spending or completed product changes.
What the funding announcement says
The claim appeared in a company press release syndicated by Binary News Network and republished by Digital Journal on November 15, 2024. It describes a $10 million private round led by NewTribe Capital. A TechAnnouncer copy dated November 14 repeats the announcement, but it is not independent confirmation. The sources do not include transaction documents, financing terms, or separate confirmation from the named investor. Read the Digital Journal release.
How Nexgen said it would use the money
The release says the proceeds would support Epic Ballad through new game content, gameplay features, user-experience improvements, and expansion into additional markets. These are the company’s stated intended uses. The announcement does not document how much was assigned to each area or establish that the planned work has since been completed.
What Epic Ballad and EBC are
Project documentation describes Nexgen Entertainment Inc. as a subsidiary of Nexgen Game Inc. and the operator of Epic Ballad: Rise of Heroes. It presents EBC as the project’s token and describes token allocations and mechanisms. Those details are project-published descriptions, not independent assessments of the game’s operation or the token’s economics. See Epic Ballad’s project documentation.
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An October 9, 2024 LBank announcement hosted by Newsfile described Epic Ballad as a mobile strategy game with blockchain features and announced a planned EBC/USDT listing for October 12, 2024. That dated announcement does not establish whether the game is currently available or whether EBC is currently traded or liquid. It also included project claims about token distribution and user reach, which the available sources do not independently substantiate. Read the October 2024 listing announcement.
What the announcement does—and does not—establish
- Funding: The $10 million round and NewTribe Capital’s lead role are claims in the syndicated release; the sources do not independently confirm the closing or investor participation.
- Use of proceeds: The release describes intended investment in content, gameplay, user experience, and market expansion, not verified expenditures or outcomes.
- Token and market figures: The release reports an initial EBC price of $0.043, a move above $0.10, and trading volume above $1 million. Those figures were not independently verified in the available sources and should not be treated as established market data.
- Supply: The October 2024 listing announcement gives a stated total supply of 1.37 billion EBC and describes project-reported allocations. These are attributed project figures, not independently verified measurements.
For a personal-finance reader, the distinction is important: a funding announcement is not proof of a company’s financial condition, a token’s value, or a user’s potential return. The available material does not support an investment conclusion about EBC.
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