Category: News, NFT News

Web 3 VC Giants Back Pixelverse with $5.5M Capital Raise to Expand Global Web3 Gaming

Pixelverse, a P2E gaming ecosystem based on blockchain technology has announced the completion of a successful funding round of $5.5 million, led by top venture capitalists in the industry. The latest funding round aims to fund the growth of its gaming ecosystem and entertainment studio, with a goal to further expand its growing user base. The platform has already welcomed over 15 million users within its first month of operation.

The funding round was led by gaming and Web 3 VC Delphi Ventures, with participation from Merit Circle, Mechanism Capital. Bitscale Capital, Ghaf Capital, Big Brain Holdings, LiquidX, and Foresight Ventures. Angel investors including Sébastien Borget founder of The Sandbox, Luca Netz, Dingaling, DCF GOD, Grail, and James Kwon also participated in the funding round.

“We are pleased to be backing Pixelverse as they aggressively leverage Telegram’s distribution to drive a massive audience into their ecosystem,” said Piers Kicks, founding partner of Delphi Ventures. “The team has a finger on the pulse of the market, and we’re excited to see what this in conjunction with community feedback brings as they deliver on their ambitious roadmap this year.”

Pixelverse is a cyberpunk-themed web browser game that allows players to participate in quest-based battles. The game is designed around player versus environment (PvE) and player versus player (PvP) battles, complemented by an intricate robot crafting system. Players within the game can gather resources, build and enhance bots and create strategies to better their quest within the game’s ecosystem.

Since launching in May this year, Pixelverse has witnessed explosive growth rates, registering over 15 million players and over 5 million daily active users. As Kori Leon, COO of Pixelverse and former Binance Listing team member explained, Pixelverse is a “game changer for Web 3 adoption”, ranking as one of the fastest-growing Web 3 platforms of all time.

“Never in my time at Binance did I see a company with such strong adoption metrics in such a short space of time,” Leon stated. “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.”

Leon further believes the latest funding round with further the expansion and adoption of Pixelverse, with a goal to become one of the largest games across the Web 3 space and challenge traditional gaming.

“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,” he added following the closing of the latest funding round.

A trailblazer in Web 3 gaming

The fast adoption rates of Pixelverse sets it up as a “trailblazer” in the Web 3 gaming space, allowing Web 2 gamers to easily join play-to-earn platforms. The P2E game is expected to cross the 100 million players mark in 2024, welcoming traditional gamers to join the expansive Web 3 ecosystem and enriching the Pixelverse ecosystem into a global phenomenon similar to Web 2 games such as Call of Duty, EAFC, GTA etc.

Notwithstanding, Pixelverse’s instrumental Tap-To-Earn narrative has been a crucial step in enhancing engagement within Web 3 games and mini apps. The innovation operates at the intersection of GameFi and SocialFi, with its Tap-to-Earn format causing it to be dubbed “the NotCoin of gaming.”

Today, the game sees over 10 million battles waged within Pixelverse’s Telegram mini app – PixelTap. Following the additional capital, the browser-based Pixelverse realm will be further expanded to introduce a universe replete with multiple mini-games and immersive storytelling. This will be made possible via a partnership with an unnamed world-renowned art director and world builder who joined the Pixelverse team recently.

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