Quick take:
- Pixion Games has raised $5.5 million in a seed round backed by Avalanche, Shima Capital and ReadyPlayerDAO.
- The company will use the funds to accelerate the development of Fableborne, its flagship blockchain game.
- Pixion plans to officially launch the game within the next calendar year.
Pixion Games has announced the completion of a $5.5 million seed round backed by Avalanche’d Blizzard Fund, Shima Capital and ReadyPlayerDAO. Other investors joining the round include VGC Partners, Zee Prime, Mechanism Capital, GSR, Avalaunch, Misfits Gaming, and more.
The web3 gaming studio said it will use the fresh capital to accelerate the development of Fableborne, a web3 mobile-first isometric play-to-own multiplayer game. The game allows players to use digital assets on the Avalanche network.
Pixion is looking to ramp up the development of the game by building a tech stack and adding to its leadership team, CoinDesk reported. Part of the ecosystem development scheduled for Fableborne includes Pixion League, the in-app tournament platform, and turbocharging LiveOps for free-to-play games.
Commenting on the game’s development progress after the fundraising, Kam Punia, founder and CEO of Pixion Games said: “Our team is fully focused on making Fableborne a leading high-quality game with on-chain elements. With this mission in mind, we’re proud to say that our LiveOps powered by tournaments model is nearly ready for release.”
In Fableborne, players can accumulate on-chain in-game asses by building structures, raiding their opponents, and upgrading buildings, among others.
Pixion Games leadership team includes gaming vets from some of the industry’s biggest companies including Konami, Garena, Gala Games, Square Enix, Sony, Wargaming, Pixonic, Ubisoft, and NCSOFT, among others.
Its flagship game completed a two-round pre-alpha testing phase in October 2022, where a small group of players from its community took the opportunity to experience the game. In March 2023, Pixion launched its Creator Program, allowing Fableborne content creators to earn rewards.
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