Another popular Web3 Play-to-Earn game, Pixelverse, has just raised over $2 million in their latest $5 million funding round.
Pixelverse, a thriving Web 3.0 brand and game ecosystem, has completed a private funding round, securing an additional $2 million in capital.
This latest fund brings the total sum raised from funding to $7.5 million, following the initial announcement of an earlier funding of $5 million. Several prominent Web 3.0 venture capital firms and private investors participated in the extension of Pixelverse’s private round.
The Pixelverse ecosystem is set to be expanded by establishing a new fund
As per a press release provided to Coinspeaker, Galaxy Interactive, Crit Ventures, and Arc Community are among the investors. Additionally, the $2 million funding round was participated in by the following entities: The Block founder Mike Dudas, Coco Bear, Luke Belmar, and prominent angel investor Alex Kruger. Delphi Ventures, Merit Circle, and Mechanism Capital were the initial contributors of $5.5 million.
The organization intends to involve the fund in broadening the Pixelverse ecosystem. This encompasses mobile mini-games and media such as PixelTap, which have already garnered millions of participants. Kori Leon, the Co-Founder and COO of Pixelverse, emphasized that the company, initially established as a Web3.0 gaming ecosystem, is now deploying Web 3.0 IPs in the real world.
He recognized Pixelverse for its ability to make crypto accessible to a wide range of individuals by utilizing gaming mechanics, particularly during a period when the sector remains intimidating to many users. The company’s objective is to guarantee its operations’ long-term sustainability and profitability as it expands its media and other product divisions.
The performance of the Web 3.0 brand, particularly its quest-based cyberpunk browser and Telegram activities, has been exceptional to a significant extent. It has enrolled over 70 million registered users and 13 million daily active users. This indicates the increasing demand for mobile applications utilizing Web 3.0 within the Telegram and TON ecosystem.
Ryan You, Partner, and Co-Head of Gaming at Galaxy Interactive, praised Pixelverse’s accomplishments, asserting that it has successfully addressed the critical challenge of disseminating its visionary concepts and products.
The demand for Web3 gaming is on the rise
The expansion of Pixelverse’s $5 million fund to $7.5 million is a significant indicator of the widespread interest in blockchain gaming. In the past few months, numerous organizations have pursued partnerships and other agreements that have bolstered the ecosystem. Edia Corporation, a publicly traded corporation, recently partnered with Oasys, a gaming blockchain.
As per the agreement, Oasys will be the exclusive distributor of all 139 retro game IP titles that Edia possesses in the global and Web 3.0 markets. This encompasses Gaiares, initially released as a cartridge game for the Genesis.
Games based on Telegram, such as Hamster Kombat and Notcoin, have also achieved significant traction. To effectively serve its users, Notcoin introduced Notcoin Explore. This platform is designed to expedite the development of Web3 projects by offering a simplified process for project launch and user engagement within the Telegram ecosystem.