Quick take:
- The game will be released on PlayStation, Xbox and PC.
- The company is also developing an on-chain marketplace called GUNZ, which will allow Gunzilla games and other AAA games to trade in-game items as NFTs.
- The company said the $30 million raise also included a $10 million strategic token round from Republic Capital and Morningstar Ventures.
Gunzilla Games, a Web3 game developer studio on Play Station has announced a $30 million funding round led by Avalanche’s Blizzard Fund and CoinFund. The fundraising also included a $10 million strategic token round from Republic Capital and Morningstar Ventures, and “previously unreported equity and validator sales,” Gunzilla Games said in a statement.
According to the announcement, the company will use the funds to accelerate the development and release of its upcoming free-to-play battle game “Off the Grid”. Gunzilla is also building an on-chain marketplace that enables its community and other AAA games to buy, sell and trade in-game items as non-fungible tokens (NFTs).
Commenting on the announcement, Gunzilla Games co-founder and CEO Vlad Korolov said in the statement: “With the forthcoming launch of ‘Off the Grid’ and GUNZ to the public, we are not just advancing towards a new horizon in AAA gaming but also establishing a new standard in the blockchain space.”
Gunzilla wants to build blockchain games with the gaming experience of a AAA game, addressing one of the challenges some Web3 studios have struggled with. The company describes its debut crypto game “Off the Grid” as a third-person shooter video game that deploys the revolutionary concept of complete asset ownership and a player-driven in-game economy.
The game is scheduled for release on both Sony’s PlayStation and Microsoft’s Xbox as well as, on PC.
Commenting on his firm’s leading role in the fundraising, CoinFund partner and Director of Research Evan Feng said: “The gap between traditional and on-chain games is rapidly closing and will invert as game developers choose to leverage the full power of blockchain technology.”
Lydia Chiu, an executive at Ava Labs and head of Blizzard Fund commented: “‘Off the Grid’ fully dissolves tricky web3 elements like complex wallets and NFT acquisition into the natural gameplay, giving everyday console gamers a blockchain gaming experience without necessarily realizing they’re having one.”
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