Web3 gaming studio Pixion Games has raised $5.5 million in its seed fundraising round, with backing from Avalanche.
Notable investors include the Blizzard Fund of the Avalanche Foundation, Shima Capital, and ReadyPlayerDAO. Pixion Games will use the funds further to develop their highly anticipated project, Fableborne.
Fableborne is an action role-playing game that leverages web3 technology and on-chain resources on the Avalanche network, offering players enhanced gameplay and different ownership options.
Pixion Games aims to revolutionize RPGs by combining strategic base building with easy access to in-game resources. The studio is also close to completing its LiveOps powered by tournaments model.
Other notable backers in this round include Eldridge, Merit Circle, VGC, Zee Prime, Mechanism Capital, GSR, and Misfits Gaming. The success of recent fundraising rounds highlights the increasing importance of blockchain gaming in the crypto ecosystem.
Illuvium secured $10 million in investment, allowing for further development and broadening its gameplay appeal. Dapper Labs, the creator of NBA Top Shot, raised a staggering $305 million, demonstrating market confidence in the future and revenue potential of blockchain gaming. DappRadar analysis shows that blockchain gaming generated a remarkable $476 million in income.
