With the rapid development of the Web3 gaming ecosystem, some projects that provide infrastructure for games have also begun to attract attention. Among them, Alliance Games (COA) is a representative with considerable potential.

As a Web3 gaming infrastructure launched in 2019, COA hosts the deployment and operation of games through public network nodes. In addition, they have developed a turn-based game called Chain of Alliance.

From the data, COA is showing good momentum in its development. Currently, it has attracted over 420,000 on-chain users and has more than 35,000 passport holders. At the same time, the total number of COA nodes has exceeded 1 million, and the total transaction volume has surpassed 30 million. In terms of social media, COA has 160,000 followers on the X platform, 72,000 members in its Telegram group, and 50,000 users in its Discord community.

In terms of financing, COA has completed two rounds of funding, raising a total of 8 million USD. Among them, the seed round exceeded 3 million USD, and the A round was 5 million USD. This reflects the confidence investors have in the project.

In terms of token economics, the total token supply of COA is 2 billion, of which 25% is held by venture capital firms. Based on this information, we can roughly estimate that the average valuation of COA by venture capital firms is about 32 million USD.

However, compared to other blockchain gaming infrastructure projects in the same industry, COA's current valuation still has a certain gap. The market capitalization of most similar projects usually ranges between 200 million to 300 million dollars. Considering that COA has not yet launched a hit game, this may somewhat limit its valuation.

Considering various factors, we can predict that the fully diluted valuation (FDV) of COA during the Token Generation Event (TGE) may reach as high as $100 million. However, since some information has not yet been made public, this prediction may be subject to change.

Overall, as a project focused on Web3 game infrastructure, COA has shown good development potential. Although there are currently no blockbuster games to support it, its performance in terms of user numbers, node count, and transaction volume is quite impressive. For investors interested in the blockchain gaming sector, COA is undoubtedly a project worth keeping an eye on.