Pixelverse, a leading blockchain-based play-to-earn platform that aims to connect players and games in an immersive environment, announced the successful closing of a $5.5 million funding round from top crypto and gaming VCs. The funding round welcomed top investors such as Delphi Ventures, Merit Circle, Mechanism Capital, Bitscale Capital, Ghaf Capital, Big Brain Holdings, LiquidX, and Foresight Ventures.
Other participants in the round included angel investors such as Sébastien Borget, founder of The Sandbox, Luca Netz, Dingaling, DCF GOD, Grail, and James Kwon.
The capital raise is expected to enhance development across the gaming ecosystem and fund the global expansion of the Web 3 gaming movement. The funds will also be directed to marketing prospects to enhance the growth of the platform’s user base, with the platform already attracting 15 million users and 5 million daily active users in its first month of operation.
Praising the massive growth rates of the platform so far, Kori Leon, COO of Pixelverse and former Binance Listing team member, stated:
“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.”
The funding is expected to further grow Pixelverse’s adoption and the Web 3 gaming ecosystem in general, with a goal of attracting over 100 million traditional gamers.
“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,” Leon added.
The platform provides a cyberpunk universe that combines elements of exploration, crafting, and combat, allowing players to compete in battles and earn rewards. The funding round follows the recent launch of the Pixelverse gaming ecosystem and its airdrop campaign that saw over 10 million $PIXFI tokens disbursed to participants for completing various activities. The activities included collaborating in team battles, inviting friends, bot maintenance, trading on the marketplace points, and correctly predicting battle outcomes that trigger rewards.
Speaking on the latest funding round, Piers Kicks, founding partner of Delphi Ventures, said:
“We are pleased to be backing Pixelverse as they aggressively leverage Telegram’s distribution to drive a massive audience into their ecosystem. 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.”
Other developments on Pixelverse will include improving the Tap-to-Earn initiative, which rewards regular player engagement with fun Web3 games and mini apps such as the Telegram-based PixelTap. As of June, the PixelTap app had over 10 million daily battles waged, showing the quick rise in the game’s adoption.
In addition, the game will welcome a world-renowned art director and world-builder to create an immersive universe with multiple mini-games and immersive storytelling. The team statement confirmed that the art director will be announced in the coming weeks.