Web3 game developer Revolving Games closes $25 million seed funding round
Quick Take
- Revolving Games closed its pre-seed and seed funding rounds at a combined $25.2 million, with participants such as Pantera Capital and Animoca Brands.
- The firm will use the funding to create original and fully decentralized web3 games over the next two years.
The blockchain-based game development firm Revolving Games raised more than $25 million in two of its seed funding rounds.
Revolving Games raised $12 million in pre-seed funding and $13.2 million in seed funding, the company said in a release. Pantera Capital, Animoca Brands, Polygon, Dapper Labs and Grand Theft Auto producer Dan Houser participated in the seed funding round.
The firm will use the combined $25 million to finance original and fully decentralized web3 games over the next two years.
“We couldn’t be more passionate about building out a true web3 ecosystem of exciting, unique gaming experiences, and we see that reflected in the work being created here,” Animoca Brands co-founder Yat Siu said in a statement.
Revolving Games specializes in AAA games, or video games that have a higher budget and production value. Grand Theft Auto, Halo and Call of Duty are considered AAA game franchises. While blockchain gaming has seen an uptick in the past year following the meteoric rise of Axie Infinity, blockchain-based AAA games are not as common compared to its mobile- or web-based counterparts.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.