Quick take:
- Blast Royale has finalised a $5M seed round co-led by Animoca Brands and Mechanism Capital.
- The fundraising was done through a private token sale of the blockchain P2E mobile game’s $BLST tokens.
- Other investors included Dragonfly Capital, DeFiance Capital, Play Ventures Future Fund, Polygon, C² Ventures, and Merit Circle.
Blast Royale on Wednesday announced the completion of a $5 million funding round co-led by Animoca Brands and Mechanism Capital. The fundraising was done through a private token sale of the $BLST token.
Other participants in the seed round included Dragonfly Capital, DeFiance Capital, Play Ventures Future Fund, Double Peak, Polygon, C² Ventures, Morningstar Ventures, DWeb3, Merit Circle, Ancient 8, AvocadoDAO, among others.
Blast Royale is a blockchain play-to-earn (P2E) mobile title developed by the London-based First Light Games. The game uses two ecosystem tokens, $BLST, which is the primary token and Craft Spice ($CS), its in-game P2E token in the Blast Royale metaverse.
Commenting on the successful private token sale, Neil McFarland, CEO of First Light Games expressed his excitement at the level of backing the company received from leading blockchain investors.
“All of our partners share our vision for making Blast Royale one of the best gaming titles, providing compelling, fun gameplay and creating a Battle Royale game suitable for the Web3 generation,” he said.
On the other hand, Animoca Brands founder and CEO, Yat Siu, highlighted Blast Royale’s gameplay quality as one of the attractive factors to VCs.
“Given the progress so far and the First Light Games team’s strong pedigree of several iconic hit games, we believe that Blast Royale will be an appealing and compelling metaverse entry for a new generation of gamers.”
Yat Siu’s comments were echoed by Eva Wu, Principal, Mechanism Capital who called the team at First Light “First Class”.
“When a space like crypto gaming is in its infancy, it’s incredibly important to back strong thinkers who shape how the space evolves,” she said.
Wu highlighted some of First Light Games’ leading projects including Monument Valley, Street Fighter and Merge Dragons, adding that the strong foundation puts the Game Studio at the cusp of a play-to-earn paradigm shift.
“We’re very excited to work with the team to tackle what a play-to-earn world might look like,” Wu concluded.
Blast Royale will use the funds to ramp up the development of the game by recruiting more talent and running a user acquisition campaign.
The game is built on the Ethereum scaling protocol Polygon L2 chain and is scheduled for testnet release during Q2 2022.
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