2022-9-10 20:51 |
Revolving Games raised $12 million in pre-seed financing and another $13.2 million in seed funding from investors led by Animoca Brands and Pantera Capital. The company will use the capital to develop its blockchain-based games. Its ‘Skyborne Legacy’ title on Polygon is expected in early October.
Gaming studio Revolving Games has closed a $25 million funding round as it looks to advance development of blockchain-based games, according to details shared on Friday.
The funding includes a pre-seed financing round that netted the Web3 game developer $12 million from investors and a further $13.2 million in new capital raised in a seed round.
Revolving Games to release game on PolygonThe company, founded in 2020 as a mobile game studio and before the Web2 era began to pave way for Web3, raised the funds over the past two and half years. Top venture firms Pantera Capital and Animoca Brands are among prominent investors to back the investment.
“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,” Pantera Capital general partner Paul Veradittakit commented.
Other investors backing the blockchain-focused game developer are Polygon, Kenetic, Dapper Labs and Permanens Capital Partners. Rockstar Games co-founder Dan Houser, who is an adviser at the company, also participated in the latest round.
Revolving Games plans to use the funds to build AAA blockchain games, including a second title to add to its Battlestar Galactica. As noted in the press release, the second title will be a blockchain-based MMO game dubbed ‘Skyborne Legacy’.
The game will be anchored on the Polygon blockchain. Skyborne Legacy is set for release in early October.
“With 2 studios and a team of 100+, we’re committed to building high-quality AAA titles that are fun and lasting. We understand that any successful game starts first with constructing vast online worlds, and we’ve brought in key hires and strategic investors to help us do that,” the team tweeted.
The post Web3 game studio Revolving Games closes $25M funding round appeared first on CoinJournal.
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