Quick take:
- Revolving Games has raised $25 million in a funding round led by Pantera Capital.
- The fundraising also attracted participation from Animoca Brands, Polygon, Rockstar Games co-founder, Dan Houser, and Dapper Labs, among others.
- The company said it will use the funds to accelerate the development of its we3 gaming technology.
Revolving Games has completed a $25 million funding round led by Pantera Capital. The company said it will use the funds to accelerate the development of its web3 gaming technology.
Pantera was joined by Animoca Brands, Polygon, Rockstar Games co-founder, Dan Houser, Dapper Labs, Permanens Capital Partners, Kenetic, Sarmayacar, and DWeb3 Capital, to bring in $13.2 million with other investors bumping the figure up to $25 million for the round.
Revolving Games also plans to use the funds to build scalable web3 AAA games based on its own original IPs and in partnership with global partners over the next two years.
The company has already invested over $12 million over the last 2.5 years in gaming technology, enabling web3 builders to launch new games faster and more efficiently, Revolving Games, revealed in a press release on Friday.
“Our vision is clear: to build AAA quality games that turn heads amongst the best launches at the top gaming forums like Gamescom and E3! As the world moves from a developer-owned ecosystem to a player-owned ecosystem, Revolving Games will be at the forefront of this evolution whilst continuing to release titles that compete with the best in the traditional video games industry. We are building the future of gaming and gameplay!” said Saad Zaeem, Co-CEO of Revolving Games.
In a report published by Dapp Radar, web3 games and metaverse projects have raised over $750 million since the beginning of August.
Revolving Games launched as a free-to-play mobile game in 2020 and has since grown to have two studios with a team of more than 100 staff working on blockchain gaming projects across Europe, Asia and South America.
The company launched its first AAA web3 Battlestar Galactica-themed game in June, developed in collaboration with web3 and metaverse gaming company Gala Games and global entertainment giant NBCUniversal.
Yat Siu, Co-Founder and Executive Chairman of Animoca Brands said, “We love the work we’re seeing from Revolving Games and in particular its passion for building a Web3 ecosystem of exciting, unique gaming experiences. We believe Revolving Games has a bright future and we are delighted to lend our support.”
On the other hand, Paul Veradittakit, General Partner at Pantera Capital commented: Web3 gaming is one of the most innovative and rapidly developing sectors within the crypto industry, and we’re proud to be in the vanguard of this digital revolution.”
Veradittakit added that Revolving Games’ initiatives fit well into its criteria for identifying innovative thematic projects and innovative ideas that could disrupt traditional thinking.
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