Quick take:
- The company will use the funds to develop immersive IP across various formats with multiple gaming titles planned.
- Gacha combines original IP with established properties to bridge the gap between traditional and interactive entertainment.
- Its inaugural IP Poglin, which features a world filled with mythical creatures is set to launch the alpha version in the first quarter of 2024.
Gacha Monsters has completed a $3 million seed round led by Animoca Brands. The fundraising also attracted participation from Infinity Ventures Crypto, FBG, and Big Time Games.
Gacha plans to use the funds to accelerate the development of its immersive IP to be distributed across various formats, including video games, anime, comics, physical merchandise, and Web3. The company is blending original intellectual property with established IPs to bridge the gap between traditional and interactive entertainment.
Co-founded by Jia Shen, a game developer who has worked on multiple titles including Pokémon Medallion, Battle Cats and the the international version of Disney Tsum Tsum, Gacha Monsters’ first IP Poglin, is scheduled to launch the alpha version in the first quarter of 2024.
According to press material shared with NFTgators Gacha Monsters describes Poglin as a “captivating world of six tribes vying for supremacy in the mystical realm of Haven.”
The company plans to roll out Poglin into a multi-media product featuring anime, games, physical merchandise and the world of Web3.
Commenting on the announcement, Jia Shen, Co-founder and CEO of Gacha Monsters said in a statement: “As someone who has been involved in game development for years, I am thrilled by the possibilities of reaching audiences not only with games but also through videos, comics, and the Web3 space. Poglin is just the beginning of an exciting journey, the first title in a pipeline of many exciting games.”
The company said it will soon reveal a partnership with a a renowned intellectual property from Japan and the launch of the partnership’s first game. The company has already secured strategic technology partnerships with the likes of Opensea, SUI and Open Loot and integration with Arbitrum.
Yat Siu, the Co-Founder and Executive Chairman of Animoca Brands commented: “I was impressed by the creativity and dynamism of the team at Gacha Monsters. I look forward to how Gacha Monsters will build on the lore and narratives of its debut title Poglin in a Web3 context as well as across multiple media formats.”
This announcement comes hot on the heels of Animoca Brands’ announcement of an $11.88 million second tranche of funding for its Web3 loyalty project Mocaverse.
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