Blockchain Game Investment List – OpenSea raises $100 million
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 to-date during 2021: $997 million
Total investments in 2020: $72 million
Total investments to-date: $1.6 billion
- Total traditional investments (VCs, shares etc): $1.1 billion
- Total blockchain investments (ICOs/token sales etc): $423 million
Significant companies (by investment raised)
- Dapper Labs: $357 million
- Forte: $185 million
- Animoca Brands: $156 million
- OpenSea: $123 million
- Mythical Games: $120 million
- Sorare: $58 million
- IMVU/Together Lab: $35 million
- OpenSea: $32 million
- Enjin: $23 million
- Immutable Games: $17 million
- Galaxy Digital (Immutable, Lucid Sight, Mythical Games)
- Animoca Brands (Dapper Labs, Lucid Sight, Axie Infinity)
- Hashed (Animoca Brands, Axie Infinity, Mythical Games, Enjin)
- Coinbase (Animoca Brands, Dapper, Immutable)
- Andreessen Horowitz (a16z) (OpenSea, Dapper Labs)
- Coatue (Dapper Labs, OpenSea)
- WestCap (Mythical Games)
You can also read about what early-stage investor LVP thinks about the potential of blockchain games in our exclusive guest column – When will blockchain gaming be worth investing in?
- July 2021
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