With the announcement of an additional $2 million in private fundraising, Pixelverse, a Web3 brand and game ecosystem, has brought its total raise to $7.5 million. The company’s expansion of its private round drew in several prominent web3 venture capital firms.
The $2 million in investment was funded by Arc Community, Crit Ventures, and Galaxy Interactive. Prominent angel investors Luke Belmar, Coco Bear, Alex Kruger, and Mike Dudas, the founder of The Block, all took part. With this funding, the team will continue to expand the growing Pixelverse ecosystem, which now boasts millions of players thanks to its mobile mini-games and media.
Pixelverse Co-Founder and COO Kori Leon said:
“Pixelverse started as a web3 gaming ecosystem, and we are now bringing web3 IPs to the real world. Crypto is still intimidating for many users, so we are making it accessible to all through gaming mechanics. We are expanding into Pixelverse media and several product lines to ensure the long-term sustainability and profitability of our operations. This fundraising will support our growth right before our TGE which is coming this summer.”
Key backers who contributed to the initial $5.5 million round were Mechanism Capital, Delphi Ventures, and Merit Circle. Pixelverse’s cyberpunk browser and games on Telegram have 70 million registered users and 13 million active users per day, showing that the TON and Telegram ecosystems have an demand for web3 mobile games.
As stated by Ryan You, Partner, and Co-Head of Gaming at Galaxy Interactive:
“Pixelverse has brilliantly navigated the critical challenge of disseminating their visionary concepts and products. By driving Web3 adoption around the TON ecosystem and engaging 70 million players across their games and third-party titles on their platform, Pixelverse is effectively managing the economy and community in the new digital age. We are pleased to support Pixelverse in their journey, recognizing their potential to set new benchmarks in the integration of decentralized technologies and interactive entertainment.”
By capitalizing on the attention economy, Pixelverse aims to revolutionize web3 gaming by providing players with immersive and exciting experiences. With the help of innovative social features and the widely used tap-to-earn mechanics of Telegram, Pixelverse has quickly amassed millions of players for mobile games using well-known characters from crypto-native and web2 IP.
Pixelverse has become a prominent player in the Telegram mini-app game development space. Venture capitalists interested in the vibrant TON ecosystem have taken notice of its innovative mass market-freindly games and its capacity to leverage the network effects of Telegram’s 700 million users.
