Web3 Gaming Pioneer, Co-Founded By Farmville Creator, Raises $33M

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.

Source: Proof of Play

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.

Web3 Multimillion-Dollar Trend: CCP Games & Hyperplay’s Success Stories

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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