Proof of Play, led by Amitt Mahajan, one of the co-creators of Farmville, announced on Sept 21 that it has successfully raised $33 million for the development of Web3 games. Mahajan serves as the CEO of Proof of Play, while Emmett Shear, co-founder of Twitch, sits on the company’s board.
Proof of Play has successfully secured $33 million in funding to advance the development of fully on-chain games. These immersive gaming experiences aim to delight players with rapid engagement and enjoyable gameplay.
Funding for this endeavor received joint support from Chris Dixon of Andreessen Horowitz (a16z) and Neil Mehta of Greenoaks. Noteworthy participants in this investment round included Naval Ravikant, Balaji Srinivasan, and the creators of the streaming platform Twitch. Prominent Web3 companies such as Anchorage Digital, Mercury, Firebase, Zynga, and Alchemy also contributed to the funding campaign.
In Dec 2022, Proof of Play unveiled a closed beta version of its inaugural game, Pirate Nation.
In its announcement, the company confidently claimed to possess the necessary tools to overcome the challenges players face when trying to engage with Web3 games. They emphasized their array of technological and product innovations specifically aimed at swiftly immersing players into an enjoyable gaming experience without requiring prior familiarity with blockchain technology.
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Proof of Play demonstrates a strong commitment to decentralization. They described Pirate Nation as an everlasting game that could operate independently, free from external servers or the need for creator intervention. Moreover, the company revealed its intention to make its technology framework open-source, further advancing decentralization.
The Proof of Play team comprises individuals with diverse backgrounds in major gaming and web companies—these include well-known companies like Epic Games, Zynga, EA, Activision, and Google.
Large funding rounds in the multimillion-dollar range have become common in the Web3 sector in 2023. For example, CCP Games, the developer behind EVE Online, secured $40 million in March to propel a new EVE game spinoff. Similarly, Hyperplay obtained $12 million in funding in June to enhance its distribution platform, positioning itself as a strong competitor against Steam.
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