Coinspeaker
Pixelverse Secures Additional $2M in $5M Funding Round
Thriving Web 3.0 brand and game ecosystem Pixelverse has conducted a private funding round, securing an additional capital worth $2 million.
After initially announcing an earlier funding of $5 million, this latest fund brings its total amount raised from funding to $7.5 million. The extension to Pixelverse’s private round attracted the participation of a host of leading Web 3.0 venture capital firms and private investors.
Pixelverse to Expand Its Ecosystem with New Fund
Per a press release shared with Coinspeaker, a few of these investors are Galaxy Interactive, Crit Ventures, and Arc Community. Also, entities like prominent angel da Alex Kruger, Coco Bear, Luke Belmar, and The Block founder Mike Dudas took part in the $2 million funding round. For the first $5.5 million, the contributors were Delphi Ventures, Merit Circle, and Mechanism Capital.
The firm plans to engage the fund in expanding the growing Pixelverse ecosystem. This includes mobile mini-games and media like PixelTap which have already attracted millions of players. Kori Leon, Pixelverse Co-Founder and COO highlighted that the company, which started as a Web3.0 gaming ecosystem, is now pushing out Web 3.0 IPs to the real world.
He acknowledged Pixelverse for leveraging gaming mechanics to make crypto accessible to many people, especially at a time when the sector is still intimidating for many users. As the company pursues expansion in its media and other product lines, the goal is to ensure the long-term sustainability and profitability of its operations.
To a significant extent, the Web 3.0 brand, particularly its quest-based cyberpunk browser and Telegram games, has registered great performance. So far, it has onboard more than 70 million registered users and 13 million daily active users. This reflects the growing demand for Web 3.0 mobile games within the Telegram and TON ecosystem.
Ryan You, Partner, and Co-Head of Gaming at Galaxy Interactive, lauded the achievements of Pixelverse, citing that it has brilliantly navigated the critical challenge of disseminating their visionary concepts and products.
Web 3.0 Gaming Sees Increasing Demand
It is worth noting that the expansion of Pixelverse’s $5 million fund to $7.5 million underscores a general interest in blockchain gaming. In the last few months, many firms have pursued partnerships and other deals that promoted the ecosystem. A few days ago, publicly traded company Edia Corporation inked a strategic partnership with gaming blockchain Oasys.
Per the deal, Oasys will serve as the exclusive distributor for all 139 retro game IP titles that Edia owns in the Web 3.0 and global markets. This includes Gaiares, first issued as a cartridge game on Genesis.
Telegram-based games like Notcoin and Hamster Kombat have also seen significant traction. To properly serve its users, Notcoin launched Notcoin Explore, a platform aimed at accelerating the growth of Web3 projects by providing a streamlined process for launching projects and engaging users within the Telegram ecosystem.
