Chibi Clash Completes $3M Funding Round Backed by Polygon Ventures and Snoop Dogg

Chibi Clash the Web3 startup building a fantasy gaming universe has completed a $3 million private round backed by angel investors and VC firms.
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Quick take:

  • Chibi Clash has announced the successful completion of a $3 million funding round.
  • The fundraising was backed by leading VCs and gaming companies including Polygon Ventures, Rainmaker Games and others.
  • Chibi Clash said it will use the funds to accelerate the development of its fantasy Web3 game. 

Chibi Clash on Tuesday announced the successful completion of a $3 million private round backed by Polygon Ventures, Rainmaker Games, Alliance, Genblock Capital, Jump Capital, C² Ventures, Kyros Ventures, and others.

NGC Ventures, which recently raised $100 million to invest in blockchain games and other Web3 projects also participated in the fundraising, including PANONY, PetRock Capital, Shima Capital, and Avocado DAO.

Notable Angel investors included Nick Chong, Jack Teoh, Santiago Santos, and Snoop Dogg’s alias— Cozomo de’ Medici, among others.

Chibi Clash is a fantasy Web3 gaming universe created by some of the leading developers in the industry. Its team is comprised of gaming industry veterans from companies such as Zynga, EA, Funcom and Bandai Namco.

Its gaming metaverse is based on its popular game featuring staking, recruiting, and a multiplayer auto battler, among other features.

The free-to-play game is introducing play-to-earn features including NFTs that unlock unique gameplay levels such as play-to-own mechanics, and other benefits to holders. One of the most popular benefits unlocked using Chibi Legend NFTs includes the ability to select more weapons, as well as, unlocking an exclusive Tier 3 upgrade for the weapons based on their NFT metadata.

Commenting on the fundraising, Urvit Goel, VP of Games BD at Polygon Ventures said: “Chibi Clash is creating one of a kind web3 gaming universe driven by fun and addictive PvP gaming experiences.”

“We are excited to be on this journey with Chibi Clash and fully support their development of groundbreaking play-and-earn gaming ecosystem on Polygon,” Goel added.

On the other hand, Ted Mui, Founder of Chibi Clash commended the long list of Web3 investors who showed interest in working with his company to create unique Web3 gaming experiences.

“Coming from the mobile gaming world, I believe web3 gaming has the potential to disrupt the gaming ecosystem by creating value for players and collectors. We are still in the early stages of web3, and with Chibi Clash I believe we can build a fun and sustainable play-to-own ecosystem that will appeal to both traditional gamers and crypto enthusiasts alike,” he said.

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