Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 103

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 103
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on the Dungeons and Dragons and the Witcher game series and derived from the Witcher novel
series. Since 2018, we have witnessed a growing number of video game adaptations that have made their way onto home streaming services.
In the case of S.T.A.L.K.E.R. 2: Heart of Chornobyl,a game we co-published in 2024, the anticipation of the game led
to a film adaptation released in October 2024 which became a catalyst for the game launch in November 2024. As we enter into content
and game creation and investment in game IP and establish our international presence as game publisher outside of Asia, we believe we
are well positioned to allow for IP adaptations across various mediums for potential further monetization through transmedia.

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Build a digital platform to increase market share in the distribution of activation keys

Games are currently being
distributed either as a physical packaged good or in the form of activation keys. While the market for distribution of games as physical
packaged goods is quite mature, we believe the market for distribution of activation keys is still nascent in Asia primarily for the
following reasons:

| ● | lack of data security over the transmission of activation keys from game studios to game distributors due to a gap in technology 
 infrastructures;                                                                                                                 |

| ● | a gap in live governance over the consignment and sale of activation keys by retail partners; |

| ● | the need for a high degree of human intervention in the transmission of activation keys from game studios to game distributors, 
 reconciliation of records, such as the number of activation keys sold, and tracking of sales periods;                           |

| ● | lack of a live tracking system allowing the price of the activation keys to track the sales period on the Steam platform, and 
 the sales periods designated by the game studios as the special promotional periods.                                          |

We are building a new digital
platform (“Key Vault”) to address some of the foregoing technological challenges. Key Vault is currently in beta testing.
When fully developed, management expects Key Vault to provide a centralized alternative to streamline the sale of activation keys in
Asia by allowing game studios to upload activation keys into Key Vault for purchase, and tracking discount sales to allow for live price
adjustments; and thereby improves sales data reporting to the game studios. We believe this will be a strong catalyst for us to sign
more distribution agreements with game studios, and add new sales channel partners to our distribution network.

Sales and Marketing