Blockchain Game Investment List – Spectarium secures $5 million in seed funding
Welcome to our master list of investments in blockchain games. Regularly updated, this is a list of every investment into blockchain game companies.
If you think there’s a deal we’ve missed, please email [email protected]
- Total investments during 2023 (to-date): $1.1 billion
- Total investments in 2022: $8.2 billion
- Total investments in 2021: $4.3 billion
- Total investments in 2020: $88 million
- September 2023
Helsinki-headquartered game startup Spectarium has announced a $5 million seed round led by Bitkraft. Other investors include Delphi Digital and Framework Ventures.
Founded by Romain Schneider, Mark Peterson, and Plarium co-founders Avi and Gabi Shalel, the Spectarium team also includes members from EA, Epic Games, Riot Games, and Square Enix.
Singapore-seated Mythic Protocol has announced a $6.5 million seed funding round, led by Shima Capital and Indonesian outfit Alpha JWC. Other investors include Saison Capital, GDV Venture, Arcane Group, Korean web3 gaming outfits Planetarium and Marblex, and more.
As well as being aimed towards its collaborative action-shooter RPG Riftstorm, the funding will be used for the development of Mythic Protocol’s creator platform Dumb, and DeFi product Legacy.
Singapore-based game studio GamePhilos has announced an $8 million seed funding round.
Led by Xterio, Chain Hill Capital, Animoca Ventures and SevenX Venture, other investors included Hashkey, Sanctor, Game7, Bas1s, GSR, and GSG Ventures.
Founded in 2022, GamePhilos will use the funding for its mobile and PC strategy Age of Dino 4X game.
Leading web3 gaming company Animoca Brands has announced a $20 million funding round into its umbrella NFT collection Mocaverse. The funding has been raised via the issue of new shares at a price of A$4.50 per share. As part of the round, its investors has been granted a free-attaching utility token warrant on a 1:1 dollar basis.
Led by blockchain VC CMCC Global, other investors (all previous active Animoca investors) include UK-based Kingsway Capital, Liberty City Ventures and GameFi Ventures. In addition, Sky Mavis founder Aleksander Larsen, YGG founder Gabby Dizon, and Animoca’s executive chairman Yat Sui participated in the round.
Earmarked for product development and web3 adoption of the Mocaverse project, the funding will also be used more generally to expand Animoca Brands’ ecosystem.
Mocaverse is currently gearing up for the launch of its non-transferable NFT collection Moca ID, which will enable users to build their on-chain identities. Moreover, users will get access to social and playable experiences in the Mocaverse ecosystem, as well as the opportunity to earn loyalty points for engagement.
“The ongoing evolution of the Internet involves a shift from hierarchical power structures to autonomous ones, and the DAO-based approach of Mocaverse ensures that its community will be focused on driving innovation and collaboration across the broader Animoca Brands ecosystem, said Animoca Brands co-founder and executive chairman Yat Sui.
- August 2023
Turkish game developer Hungri Games has announced a $1.9 million seed round on a valuation of $23 million. Formed in 2019 and previously known for its F2P mobile titles, Hungri is now working on web3 games, notably its forthcoming Polygon-basedhorse racing RPG Metahorse Unity, which is launching its first NFT mint on 31st August.
The round was led by local investor Bogazici Ventures, who alongside UA outfit Triple Dragon previously invested in the company’s 2019 funding round. Other participants included local incubator Roko Finance, Presto Labs and angels such as The Sandbox’s Sebastien Borget and Erol Ozmandiraci, Oyunfor Tanriverdi and Caglan Tanriverdi who previously worked on projects with Hungri.
- July 2023
South Korean web3 developer Delabs has announced a $4.7 million seed round, which was led by well known local VC Hashed. Other investors included local developer Planetarium (Nine Chronicles), Polygon Labs, Spartan Ventures and Merit Circle.
Delabs is part of web2 developer 4:33 and is working on three blockchain games including the forthcoming Rumble Racing Star.
Singapore-based game developer Eyeball Games has completed a $1.5 million pre-seed funding round. Led by White Star Capital, the round also included Polygon Ventures, Immutable and Singaporean VCs Ocular and GSG Ventures.
Eyeball Games was set up by the team behind highly successful 8 Ball Pool. Currently the studio is working on web3 title Eyeball Pool, which was recently announced to migrate to Immutable’s Polygon-based zkEVM platform.
Singapore-based developer Pangu Software has raised $5 million in a seed round for its MMORPG MetaCene. Led by SevenX Ventures and Hash Global, among other investors in the round were WeMade, MixMarvel DAO Venture, Emurgo, Sinovation Ventures, and LK Venture.
MetaCene is set to be the first game to deploy on Rangers sub-chain, with launch slated for Q4 2023.
In the announcement, the team commented, “Our focus on player-centric entertainment, governance, and creation creatively combines the Web2 and Web3 elements, fostering a next-generation blockchain game. Our approach has garnered support from both Web3 and Web2 firms, signalling the potential for MetaCene to revolutionize the gaming industry”.
Aiming to use the funding to further game and tech development, Xterio will particularly focus on expanding the integration of AI, and the launch of its tokens.
The founding executive team includes leaders from FunPlus, Electronic Arts, Activision Blizzard, Krafton, Jam City, and NetEase.
“The Xterio core team brings together experienced web2 professionals with web3 expertise, we look forward to closely working with them to allow gamers around the world to experience rich on-chain gameplay,” said head of Binance Labs Yi He.
- June 2023
London-based Pixion Games has announced it’s raised $5.5 million to complete and launch its forthcoming mobile RPG Fableborne.
Participants included previous investors Shima Capital and Eldridge. Others involved in the seed round included VGC Partners, Zee Prime, GSR and Mechanism Capital, and DAOs such as Merit Circle and ReadyPlayerDAO.
Avalanche ecosystem fund Blizzard and Avalaunch were also involved. The game is launching on the Avalanche blockchain.
Fableborne is currently running various closed playtests for its community. An asychronous game, it will have both PVE and PVP elements, with its Pixion League being a key component in terms of offering the best rewards via leaderboards and ladder placement.
Web3 chess game Anichess has announced a completed seed round of $1.5 million. Among the investors are GameFi Ventures, The Operating Group, Koda Capital, Bing Ventures, 708 Capital, Asymmetry Capital, and more.
With the funding, Anichess will continue its development of a decentralised chess game involving skill and strategy with the implementation of esports elements. Alpha is expected to go live in Q1 2024.
Web3 game Cat Paradise, with backing from game developer Pluto Games, has announced a seed funding round of nearly $1 million, based on a $15 million valuation. Among the investors are Mask Network and Moon Capital.
With this funding, play-to-earn Cat Paradise, running on the TON blockchain, will focus on advancing its on-chain technology, expanding its development team, and marketing.
Based in Singapore, Decentralised Gaming Ventures’ focus is to empower the growth of the most promising emerging game developers across the wider SEA region, among other measures by acquiring independent studios and providing them with mentorship, collaborative development, and access to intellectual property.
“We’re at the very beginning of a journey to transform game development across the region by giving promising young game makers access to capital, community, mentorship, blockchain technology protocol, co-development capabilities and major IP access,” said Decentralised Gaming Ventures’ CEO Samson Oh.
Launched by Game7 DAO and MetaMask, web3 game store launcher and aggregator HyperPlay has raised $12 million in series A funding, co-led by Griffin Gaming, Bitkraft Ventures and ConsenSys. Other investors were Ethereal Ventures, Delphi Digital, Game7, Mirana Ventures and Monoceros Ventures.
Currently running in early access, HyperPlay’s game launcher enables players to carry their wallets, tokens, NFTs and other assets into all games through an integrated wallet overlay.
“We look forward to leveraging the capital raise to strengthen our product as the premier Web3 gaming platform and continue to expand our global footprint”, commented founder of HyperPlay JacobC.eth.
Argus Labs has raised $10 million in a seed round led by Haun Ventures. Among other investors were Alchemy, Anagram, Dispersion Capital, Robot Ventures. Some of the prominent angel investors were co-creator of Dark Forest Alan Luo, former CTO of Coinbase Balaji Srinivasan and co-founder of Gojek Kevin Aluwi.
Built around a collective of hackers and designers, who were also involved in seminal fully onchain game Dark Forest, Argus is aiming to push the development of fully onchain games and its web3 SDK is in private beta.
Australian developer Illuvium has announced it’s raised an additional $10 million from previous lead investor Framework. This funding will help the team as it moves towards the open beta for its open-world experience Illuvium: Beyond. It’s also working on resource game Illuvium: Zero and autochess game Illuvium: Arena.
To-date, Illuvium has raised $15 million in formal VC funding — previously announcing a $5 million seed in March 2021 — but subsequently at least $130 million from various NFT and token sales.
- May 2023
US outfit Loot Labs has announced it’s raised a $1.5 million pre-seed for its Boxed.gg loot box platform. The round was led by Bitkraft with participation from Polygon Ventures, Mechanism Capital and Lofty Ventures Syndicate as well as streamer Hammoudi ‘Yassuo‘ Abdalrhman, who has 2 million Twitch followers.
Building on its work with TCG Royale, selling trading card mystery boxes, Loot Labs plans to launch NFT mystery boxes, which display the odds of unboxing each of the possible NFTs to provide high levels of transparency and fairness.
Loot Labs’ co-founders include CEO Milan Harris and CTO Matthew Genova, who previously were both involved in Cool Cats’ game initiative.
Web3 game developer BoomLand has announced the closing of a $1 million pre-seed round. Working on its debut title, mobile battle royale Hunters On-Chain which is currently on Polygon Mumbai’s testnet, BoomLand is set to launch the game on mainnet later in the summer 2023.
Among some of the investors were Polygon, Magic Eden, Game7 and Hyperithm.
Web3 gaming infrastructure platform Openfort has raised $3 million in a seed funding round. The startup aims to help game developers offer their players a seamless wallet experience through frictionless technology.
Openfort’s set of SDKs and APIs enables game studios to create and manage fully customizable on-chain accounts where players can enjoy games and applications without being familiar with the concept of wallets.
The round was co-led by by Gumi Cryptos and Maven 11. Among other investors were Pear VC, Game7, Newman Capital, Arcane and NGC, and more.
Web3 MOBA Arena of Faith has secured $1.75 million in a seed round led by ChainHill Capital, a digital asset investment group based in Asia.
In combination with Polygon, South Korean game publisher Neowiz has announced a $10 million gaming accelerator grant program for blockchain games that will use and expand its Intella X web3 gaming ecosystem, which runs on Polygon.
The program is designed to be simple to access via an online form, with applicants expected to get feedback within 2-4 weeks of their initial application. The process will run on a first-come, first-served basis, with no maximum or minimum grant size.
- April 2023
German blockchain tech investor Scytale Digital has announced an investment of $20 million into Mythical Games, the developer of Blankos Block Party, newly launched NFL Rivals and forthcoming title Nitro Nation: World Tour.
As part of the deal, Mythical Games will migrate its Mythical Chain to Polkadot as well as set up a Mythos ecosystem on the Polkadot network.
“In choosing Polkadot, Mythical Games now has a solid foundation of innovative and top performing tech to lean on and will be able to focus on what they are great at – games,” said Mark Cachia, founder and CIO of Scytale Digital.
Animoca brands subsidiary and a leading edtech platform for user-generated educational games, TinyTap, has announced it has raised $8.5 million.
Among the investors are Sequoia China, Liberty City Ventures, Kingsway Capital, Shima Capital, Polygon, GameFi Ventures, and others.
The funding will be used to enable TinyTap’s ambition of expanding its web2 platform into a web3 education system, and to accelerate development in the edtech space by supporting teachers and promoters alike.
“By pairing educational content creators with interested promoters, we are able to benefit all parties fairly and take a significant step in our goal to put the power of learning back in the hands of educators, students, and the community”, commented the CEO of TinyTap Yogev Shelly.
Games company SuperDuperSecret Co. has raised over $1 million in a pre-seed round. Among the many investors, Round 13 Digital, Merit Circle, Polygon, Solana, Overwolf, Big Brain Holdings, LD Capital, are included. Angels such as The Sandbox COO Sebastien Borget and Gabby Dizon (YGG) also invested.
SuperDuperSecret Co. is looking to debut with multiplayer battle royale game Royale Chess, with more multiplayer games expected down the line. Royale Chess: Elements is the company’s first NFT collection, which was launched via a free mint through Magic Eden on Solana in January 2023.
Swedish game developer Goals has secured a $20 million Series A funding round led by Reddit founder Alexis Ohanian’s Seven Seven Six. Goals was founded in 2021 by Andreas Thorstensson, a former Counter-Strike World Champion and the founder of esports team SK Gaming. The funding will be used to develop the soccer game Goals, designed to appeal to both casual fans and aspiring esports professionals with its focus on fun, fast and fluid gameplay.
Other participants in the funding round include Northzone, Moonfire, and Cassius.
“Goals was born out of our passion for football, our passion for video games and our opinion that football video games have grown stale. There are over 3.5 billion football fans in the world, and our team is united in the belief that a football game done right should be the world’s biggest video game,” commented Torstensson.
Krafton and Naver Z have announced that they are investing $37 million (KRW 48 billion) into Migaloo. Previously this was Krafton’s metaverse project, but now it will become a joint venture based in North America.
First announced in 2022, Migaloo — a working title — is a “create-to-earn” project that will combine Krafton’s game expertise with Naver Z’s experience with the metaverse, social networks and IP partnerships.
The round was led by Sequoia India, with participation from Steadview Capital, Truecaller and ex-EA CCO Bing Gordon, now chief product officer at Kleiner Perkins.
Mayhem is owned by Indian real-money gaming and esports giant MPL, which itself has raised over $150 million and which operates over 60 mobile titles across sports and casino.
StarkWare has made a strategic investment in Unstoppable Games, the developer of space MMO Influence, to build on-chain games on Starknet, their layer 2 scaling technology.
“StarkWare’s equity investment in Unstoppable Games strengthens our alignment and reaffirms their confidence in the impact that gaming will have on Starknet’s growth. The investment will further our vision to build fully decentralized, on-chain games that are driven by the communities that support them”, says Chris Lexmond, the founder of Unstoppable games and creator of Influence.
- March 2023
Investors included Ericsson Ventures, Metrea Discovery, Sanctor Capital, Tirta Ventures and VU Venture Partners.
CCP Games has announced that it’s raised $40 million to make a blockchain game based in the EVE Online universe.
The round was led by a16z with participation from Makers Fund, Kingsway Capital, Nexon, Hashed and others. CCP Games is owned by South Korean publisher Pearl Abyss.
CCP recently stated it was interesting in blockchain technologies especially in terms of encouraging user-generated content and p2p marketplaces but it wouldn’t introduce the technology within EVE’s main Tranquility server.
- October 2022
Horizon Blockchain Games has announced a $40 million in Series A funding round.
The round was led by Brevan Howard Digital and Morgan Creek Digital, and included investments from traditional gaming companies Ubisoft and Take-Two Interactive.
Berlin studio Mystic Games has announced a $1.3 million seed round which was led by Shima Capital and 32-Bit Ventures. Other investors included SevenX, TA Ventures, crypto exchange MEXC and angel Joe Mahon (YGG).
Founded by vets from King, Bigpoint and Voodoo, Mystic is working on mobile web3 rogue-like Call of the VoYd, which is currently live for gameplay testing in its genesis (non-NFT) version via Google Play Store and Apple App Store.
- December 2021
Yield Guild Gaming’s southeast Asia subDAO – YGG SEA – has announced it’s closed $15 million in seed funding.
Spread across two raises, the lead investors were YGG and Infinity Ventures Crypto in August, and Crypto.com Capital, Animoca Brands, MindWorks Ventures, Poloniex, Jump Capital and Sembrani Kiqani by BRI Ventures in November.
Other investors included Circle, Digital Currency Group, Hashed, Polygon, Bukalapak, United Overseas Bank (UOB) Venture Management, Arca Funds, Evernew Capital, OKEx Blockdream Ventures, Yolo Ventures, SevenX Ventures, LongHash Ventures, Hashkey Group, Morningstar Ventures, Rise Capital, Dialectic, SweeperDAO, PetRock Capital, DNC Ventures, FBG Capital and Emfarsis.
YGG SEA will initially build its P2E operations in Indonesia, Vietnam, Singapore and Thailand, supporting locally developed play-to-earn games in each country and acquiring game assets for the benefit of the guild’s player base.
- November 2021
Veteran US blockchain game developer Blockade Games has raised $5 million on a $23 million valuation. It’s been working on its squad RPG Neon District since 2018 and has completed several seed rounds previously.
Animoca Brands and Digital led this round, with angels such as Drew Austin (Redbeard Ventures), Roham Gharegozlou (Dapper Labs), Keith Grossman (TIME) and Meltem Demirors (Coinshares) involved.
Other investors included Flamingo DAO and Galaxy Interactive, while existing investors Xsquared Ventures and Polygon also participated.
Forte has raised $725 million in its Series B, taking its total raised to $900 million.
Sea Capital (the investment arm of Free Fire publisher Sea) and Kora Management led the round
Other investors included Animoca Brands, Big Bets (Huuuge Games), Overwolf, Playstudios, Warner Music Group, zVentures (Razer), and blockchain partners Cosmos, Polygon Studios, and Solana Ventures, as well as investors including Griffin Gaming Partners, Andreessen Horowitz (a16z), and Tiger Global.
Mythical Games has closed a Series C funding round of $150 million on a $1.25 billion valuation.
The round was led by Andreessen Horowitz, and includesd participation from D1 Capital, RedBird Capital, and The Raine Group, various US sports groups and existing investors.
Mythical has now raised $270 million for its blockchain gaming platform, which recently announced its first three development partners.
US startup Faraway has announced it’s raised a $21 million Series A round. This takes its total funding to $30 million.
The round was led by Lightspeed Venture Partners, with Andreessen Horowitz, Sequoia, Pantera Capital and Jump Capital also participating.
Faraway’s debut game – a browser-based shooter called Mini Royale: Nations – is already live and will deploy with NFTs and tokens onto the Solana blockchain from December onwards.
Uplandme has raised $18 million to scale its mobile blockchain game Upland.
The funding values the company at $300 million and was led by Animoca Brands, C3 Management, OneTeam Partners and Block.one.
- October 2021
NFT based sci-fi game Parallel has raised $50 million on a $500 million valuation, with Paradigm leading the round.
Existing investors such as Gabe Leydon, Polygon and NFTBigBrain also participated.
Parallel’s NFT trading volume is currently over $125 million, however, with the most expensive card selling for $1.1 million. Parallel takes 10% of every transaction, meaning the project has already raised $12.5 million in ETH.
The funding will enable it to build out its TCG design follows the conflict between five groups – or Parallels – of far future human evolution.
Hash Rush developer Vorto Gaming has raised $4 million to build out its games and its platform ecosystem, which is based on the NEAR blockchain.
Investors included Flow Ventures; LD Capital; Block0 Fund, Daedalus Syndicate; NEAR Foundation and others including Red Cave Ventures; ArkStream Capital; GFS Ventures; Polygon Studios Fund as well as funds from UAE and Hong Kong.
Vorto Gaming also recently raised $100,000 via an NFT sale for Hash Rush, which is due for a full public launch in early 2022.
Animoca Brands has raised $65 million by issuing new shares on a $2.2 billion valuation. Earlier in 2021 it raised $139 million on a $1 billion valuation.
Investors in the round included Liberty City Ventures, Ubisoft Entertainment, Sequoia China, Dragonfly Capital, Com2uS, Kingsway Capital, 10T Holdings, Token Bay Capital, Smile Group, Tess Ventures, MSA Capital, Octava Fund, Adit Ventures, Summer Capital, Sigitech Holdings, Black Anthem Ltd, Mirana Corp, and Justin Sun.
Axie Infinity developer Sky Mavis has closed a $152 million Series B round, which values the company at $3 billion.
The lead investor was Andreessen Horowitz (a16z), with participation from Accel, Paradigm, Seven Seven Six, FTX, Fabric, Samsung Next and other investors.
This takes Sky Mavis’ total funding from VCs to $161 million.
- September 2021
Dapper Labs has raised $250 million on a $7.6 billion valuation.
The raise follows the $305 million it received in March 2021, taking Dapper’s total investment to $607 million.
Existing investors Coatue and Andreessen Horowitz (a16z) led the round with Google’s GV, Bond Capital and the Singapore government’s GIC investing for the first time.
French developer Sorare has announced its $680 million Series B round for its fantasy soccer game.
The round was led by SoftBank, with the participation of Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP and Liontree, and existing investors.
The investment is the largest in the history of French technology and the largest in Europe for a Series B.
Sorare says it will use the cash to build out its team, expand to mobile as well as launching new games covering othere sports.
US startup Stardust has raised a $5 million Series A round, which was led by Framework Ventures.
Other investors included Kleiner Perkins, Blockchain Capital, Distributed Global, Maven 11, G1.vc, OP Crypto, Redbeard Ventures, and Lattice Capital.
There were also angel investors including Piers Kicks of Delphi Digital, Gabby Dizon of Yield Games, Sebastien Borget of The Sandbox, and Nikil Viswanathan of Alchemy.
Stardust is a platform enabling game developers to create blockchain games across the likes of Polygon, Solana, Immutable X and Flow. It also offers easy fiat onboarding and multi-party wallets (via Fireblocks).
Australian oufit Immutable has closed a $60 million Series B funding round.
It was co-led by Bitkraft Ventures and King River Capital.
Other companies participating included Prosus Ventures (previously Naspers), Galaxy Interactive, Fabric Ventures, Alameda Research, AirTree Ventures, Reinventure, Apex Capital, and Gary Vee’s VaynerFund.
Immutable will use the investment to scale its games Gods Unchained and Guild of Guardians, as well as build out the ecosystem around its Immutable X platform, which uses StarkWare’s technology to provide a seemless L2 solution for Ethereum.
UK-based Bitcoin payment platform Zebedee has raised $11.5 million.
The lead investor was Lakestar, with Initial Capital, New Form Capital and TVP participating.
Existing investors Collab+Currency, Cadenza Capital and Fulgur Ventures also invested, as did angels Hilmar Petursson, Chris Lee, Alexis Bonte, Timo Soininen and John Salter.
Zebedee using the Lightning Network to allow nanotransactions as low as 1 Satoshi.
- August 2021
Blockchain gaming community Yield Guild Gaming has raised $4.6 million finance round. This follows quickly from its $12.5 million YGG public token sale and a $4.5 million Series A.
Andreessen Horowitz (a16z) led the round, with Kingsway Capital, Infinity Ventures Crypto, Atelier Ventures, and gaming entrepreneur Gabriel Leydon also participating.
Thirdverse has raised $20 million in what it calls a combined Series A and B round.
The investment was led by its existing lead investor JAFCO with participation from previous investors Presence Capital, Sisu Ventures and Incubate Fund. Animoca Brands was the new investor for this round.
Based in Tokyo, Thirdverse is combining VR and blockchain. Its first game was Swords of Gargantua and it has two new games in development.
Planetarium has raised $2.6 million in what it calls a “growth round” to scale its idle PC game Nine Chronicles.
Animoca Brands and Divergence Ventures were the lead investors with IDEO CoLab, Sfermion, Hypersphere Ventures, SkyVision Capital and angels such as Axie Infinity co-founder Jeffrey Zirlin and Aave CEO Stani Kulechov also participating.
The investment will be used to scale the game, notably releasing a lite client for mobile and bridging the game’s NFTs and NCG cryptocurrency to Ethereum.
- July 2021
Horizon Blockchain Games has raised $4.5 million in what it describes as a “pre-Series A round SAFE” investment.
Funders included Bitkraft Ventures, previous investor CMT Digital, The Xchange Company, Khaled Verjee and Zyshan Kaba.
Horizon previously raised $5 million in its seed round in 2019 and 2020.
Best-known for its Ethereum-based TCG SkyWeaver, which remains in beta, Horizon is also now pushing its Sequence blockchain tools, which include a crypto wallet.
NFT marketplace OpenSea has raised $100 million in its Series B investment round.
Andreessen Horowitz (a16z) led the round. Coatue, along with Michael Ovitz, Kevin Hartz, Dylan Field, Kevin Durant, Ashton Kutcher, and Tobie Lutke also participated.
OpenSea raised $23 million back in March 2021, also led by Andreessen Horowitz. It has profited from the continual rise of NFT projects such as Meebits and Bored Ape Yacht Club on the Ethereum blockchain. OpenSea hosted $160 million of trading during June 2021, taking a 2.5% cut of all transactions.
Animoca Brands has extended its recent funding with a further $50 million, taking that round to $138,888,888.
Investors included mobile games company Scopely, Razer’s zVentures, Samsung Venture Investment Corporation, Coinbase Ventures and other Asian institutional funds.
Blockchain esports platform Community Gaming has raised a $2.3 million seed round.
The US company will use the funds to expand its business into Latin America and South East Asia.
Other significant participants included Kevin Durant’s Thirty Five Ventures, Mark Pincus’ WorkPlay Ventures, WhaleShark and Forte’s Kevin Chou.
- June 2021
Mythical Games has closed a Series B funding round of $75 million.
The round was led by WestCap. Also participating were 01 Advisors and Gary Vaynerchuk’s VaynerFund, and existing investors.
This takes Mythical’s total funding to $150 million.
Mythical’s first game – Blankos Block Party – is now in early access and its marketplace is in closed alpha testing. As well as scaling Blankos to other platforms including console, the investment will enable Mythical to build out its blockchain game platform, and release additional products.
Based in Seattle, Mythical now has more than 100 staff and is hiring.
- May 2021
Investors included Galaxy Interactive, Horizons Ventures, Iconiq Capital and Tencent.
Animoca Brands has raised $88,888,888 by issuing 93.4 million new shares. This values the company at $1 billion.
Investors included Kingsway Capital, RIT Capital Partners, HashKey Fintech Investment Fund, AppWorks Fund, LCV Fund, Huobi, Octava, Ellerston Capital, Perennial, Axia Infinity Ventures, SNZ, Liberty City Ventures, and Metapurse.
This takes Animoca Brands’ fundraising – via traditional VCs as well as token and NFT sales – to $106 million.
The new capital will be used to fund further acquisitions, develop new products, continue to make strategic investments, and secure additional IP licenses.
Axie Infinity developer Sky Mavis has raised $7.5 million in its Series A round from investors including US billionaire Mark Cuban.
Other investors included Blocktower Capital, Konvoy Ventures, Libertus, Collab + Currency’s Derek Schloss and Stephen McKeon.
Previously Sky Mavis has raised over $5 million from a series of token and VC funding events.
The company, which is based in Vietnam, has around 20 staff and expands to at least double its headcount in the coming months.
It’s currently building out the infrastructure behind Axie Infinity, with the launch of its own Ronin sidechain, which allows its Ethereum-based NFTs and tokens to be used without the high transaction fees currently experienced on the Ethereum mainnet.
- April 2021
The deal was part of Exordium’s security token offering, which has raised over $3.7 million.
Polyient has been active in the blockchain game space with investments into Gala Games and Neon District developer Blockade Games.
The Sandbox generated $5.9 million, paid via its SAND token by selling Land NFTs.
Some of these were sold directly at a fixed prices while others were sold at auction via OpenSea.
F1 Delta Time sold 300 NFTs which are parts of its officially licensed F1 racing tracks for $3.4 million, paid via its REVV token.
Both of these projects sold their NFTs on the Ethereum blockchain, although they will also be available on other blockchains later in 2021.
- March 2021
Singapore-based outfit Enjin has announced its Efinity blockchain will now launch as a Polkadot parachain.
In conjunction, Enjin has announced a private sale of the EFI token, which raised $18.9 million.
The sale was led by Crypto.com Ventures, DFG Group and Hashed.
Dapper Labs has announced a $305 million funding round, which was led by Coatue.
Other investors include more than 30 NBA, NFL, and MLB athletes, entertainment leaders, and cultural influencers — and includes participation from The Chernin Group, Andreessen Horowitz, Venrock, USV, and Version One.
Dacoco, the developer of Alien Worlds, has raised $2 million in a private sale of the game’s Trilium (TLM) token.
The idle mining game, which runs on the Wax blockchain, is currently the second most popular blockchain game in terms of daily active unique wallets.
Investors included Animoca Brands, Longling Capital, 3Commas and Digital Assets Group.
NFT marketplace OpenSea has announced a $23 million funding round, led by Andreessen Horowitz.
Other participants included previous investors as well as angels such as Mark Cuban, Naval Ravikant, Tim Ferris and Alexis Ohanian. You can read the full list here.
Australian startup Illuvium has raised $5 million from Framework Ventures for its Unreal Engine game also called Illuvium.
Co-founded by Kieran and Aaron Warwick (the younger brothers of Synthetix founder Kane), the game has a strong DeFi component revolving around NFTs and passive income, and uses the Immutable X scaling solution.
The game is planned for release at the end of Q3 2021.
- February 2021
Fantasy soccer game Sorare has closed a $50 million Series A round, which was led by Benchmark Capital (Riot Games, Discord, Twitter).
Prominent players including Antoine Griezmann, Rio Ferdinand and Oliver Bierhoff also invested as did Reddit founder Alexis Ohanian.
It has previously raised $8 million.
NFT lending platform NFTfi has raised $890,000 from a range of investors including Animoca Brands, which takes the role of strategic investor, CoinFund and angels such as Dapper Labs’ Roham Gharegozlou and The Sandbox’s Sebastien Borget.
- January 2021
Virtual world outfit IMVU has raised $35 million from Structural Capital and NetEase to rebrand as Together Labs.
It will also launch new mobile-focused project WithMe.
As with IMVU, the company’s new VCOIN cryptocurrency will be a key component of economic growth for users.
Swedish developer Antler Interactive has raised $2.1 million from a range of investors to complete and launch its forthcoming PC game My Neighbor Alice.
Polyient paid Gala Games $800,000 to acquire the Citadel of the Sun NFT from its forthcoming MMO Mirandus.
The Citadel of the Sun is a one-off legendary-tier NFT that will enable players to deposit and store in-game items.
Polyient previously invested in Blockade Games.
- December 2020
Barcelona player Gerard Pique, who also invested in the seed extension, will also join Sorare as a strategic advisor.
The Sandbox completed its 4.3 Land presale (including premium Smurfs content), raising around $450,000 in the process.
- November 2020
Axie Infinity developer Sky Mavis raised $860,000 in a strategic token sale of its AXS governance token to existing investor and advisor Delphi Digital.
Delphi had previously acquired five Axie NFTs from the game’s marketplace for over $160,000.
- October 2020
Axie Infinity developer Sky Mavis sold $3 million of its AXS token through Binance Launchpad.
Dapper Labs raised $18 million via a sale and an auction of Flow tokens on the Coinlist platform. The sale priced the Flow tokens at the $0.1 value of previous private sales, while the auction priced the tokens at $0.38.
This takes Dapper Labs total funding raised to $68 million.
Japanese startup Thirdverse (previously Yomuneco) has raised $8.5 million in its Series A to make VR games also using blockchain technology.
- August 2020
All previous investors participated, while new investors were Coinbase Ventures, Distributed Global, Valor Capital Group, A.Capital, BlockTower Capital, Blockchange Ventures, EONXI Ventures, Reed Company, Greenfield One, North Island Ventures, Republic Labs, L1 Digital AG and Pirata Capital.
A number of NBA players also invested: Andre Iguodala (Miami Heat), Spencer Dinwiddie and Garrett Temple (Brooklyn Nets), JaVale McGee (Los Angeles Lakers), and Aaron Gordon (Orlando Magic).
The Sandbox developer Pixowl (part of Animoca Brands) has announced a $3 million hard capped public sale of its SAND ERC20 token through Binance Launchpad.
- July 2020
Fantasy soccer game Sorare raises a $4 million seed round, lead by e.ventures. It plans to double both team-size and the number of clubs under license.
Animoca Brands raises $4.1 million, from strategic investors including M7 Asia and Mind Fund. It’s now raised a total of $18 million.
- June 2020
DMarket raises $6.5 million, from Almaz Capital and Xsolla, adds Trip Hawkins to board. It’s now raised a total of $26 million.
- April 2020
Ember Sword dev Bright Star raises $700,000, from Play Ventures and Galaxy Interactive
- March 2020
Horizon Blockchain Games raises $5 million, from Initialized Capital and others. It’s now raised a total of $9 million.
- February 2020
CryptoDozer dev SuperTree raises $2.5 million
- November 2019
Blankos Block Party dev Mythical Games raises $19 million, from Javelin Venture Partners and others. It’s now raised a total of $35 million.
Onboarding tech Bitski raises $3.5 million, from Galaxy Digital, Coinbase and others
Axie Infinity dev Mavis Sky raises $1.5 million, from Hashed and Animoca Brands
- September 2019
Dapper Labs raises $11 million, from Andreessen Horowitz and others. It’s now raised a total of $26 million.
DappRadar raises $2.3 million, from Naspers Ventures and Blockchain Ventures
- July 2019
SkyWeaver dev Horizon Blockchain Games raises $3.75 million, from Initialized and others