The Web 3 gaming and entertainment studio Pixelverse has reportedly secured $5.5 million in Venture Capital funding. The entertainment studio and Web 3 gaming ecosystem plan to use the funds to expand Web 3 gaming outreach.
Pixelverse has managed to raise $5.5 million in a competitive funding round from both VC funds and angel investors. Many angel investors who participated in the funding round have a solid background in the gaming and Web 3 space.
Also Read: Mon Protocol Partners With Quest-Based Battler Pixelverse.
The Pixelverse platform has achieved significant milestones so far. Since it started operating a month ago, the platform has attracted over 15 million users. These incredible numbers could possibly be the reason behind this VC funding round’s success. At the moment, Pixelverse is reportedly recording an average of 5 million daily active users.
Pixelverse attracts top VC firms
Pixelverse, the emerging game ecosystem and entertainment studio, raised $5.5M from top VCs and Web3 founders.
Investors include @Delphi_Digital , @MeritCircle_IO , @MechanismCap , @BitscaleLabs and more, along with angel investors like @borgetsebastien , @dingalingts ,… pic.twitter.com/v1vR93QtPe
— Pixelverse (@pixelverse_xyz) June 12, 2024
Top VC firms have reportedly come together to accumulate funds for the Pixelverse Web 3 gaming platform. Delphi Ventures, Mechanism Capital, and Merit Circle were the lead VC firms that participated in the funding round.
Other VC firms involved include Ghaf Capital, Bitscale Capital, LiquidX, Foresight Ventures, and Big Brain Holdings. These five VCs also significantly contributed to this funding round, which aims to grow the Web 3 gaming space. Sebastien Borget, the founder of the Sandbox, was also in attendance. Borget was in the company of notable individuals, including Luca Netz, DCF GOD, Dingaling, Grail, and James Kwon.
Following the successful VC funding round, Kori Leon, the CEO of Pixelverse and former Binance Listing executive, said,
“Never in my time at Binance did I see a company with such strong adoption metrics in such a short space of time. Pixelverse is truly a game changer for web3 adoption and it’s incredible to see not only the growth in our userbase but also the deep connections and interactions formed within the community. Closing this round will allow us to expand our adoption strategy as we continue on our journey to become a leading gaming and entertainment hub not only in the web3 space but globally.”
Delphi Ventures also expressed their excitement in the Pixelverse project. The founding partner, Piers Kicks, mentioned how Telegram’s distribution would be vital in the growth and expansion of the ecosystem.
Top venture capital firms eye Web 3 industry
Top VC firms have been keen on the developments within the Web 3 gaming industry. As a result, several crypto-focused VC firms have been launched. As of this writing, Coinbase Ventures already has a crypto VC with over 300 projects. Coinbase Ventures VC already has promising projects like Etherscan, OpeanSea, and Near in its portfolio.
Pantera Capital’s venture capital also has over $3.3 billion in assets under management (AUM). The Web 3-focused VC fund has Alchemy, 1inch, and Anchor in its portfolio. a16z is another popular crypto VC fund with a wide range of projects in its portfolio. As of this writing, a16z has over $35 billion in AUM with projects like LayerZero, Dapper Labs, Celo, and Maker.
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Following Pixelverse’s success in the VC funding round, the Web 3 entertainment studio and game ecosystem leaders expect to grow its Tap-to-Earn approach. According to Pixelverse’s leadership, the platform already witnesses over 10 million battles daily. The team has reportedly onboarded an experienced art director to help with the platform’s further growth.
Cryptopolitan reporting by Collins J. Okoth
