Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Proof of Play, a company founded by FarmVille co-creator Amitt Mahajan, has raised $33 million to develop Web3 games, according to an announcement on September 21. Mahajan serves as the CEO of Proof of Play, while Twitch co-founder Emmett Shear sits on the board of directors.
The funding round was co-led by Chris Dixon of Andreessen Horowitz (a16z) and Neil Mehta of Greenoaks. Additional investors included Naval Ravikant, Balaji Srinivasan, and the founders of the streaming platform Twitch. Participating firms also included Web3-focused entities such as Anchorage Digital, Mercury, Firebase, Zynga, and Alchemy.
Proof of Play released a closed beta of its inaugural title, Pirate Nation, in December 2022.
Pirate Nation Web3 game. Source: Proof of Play
Related Posts
In its announcement, the company stated that it can address many common obstacles players face when engaging with Web3 games. It highlighted a “set of technological and product innovations” designed to “quickly immerse players in fun gameplay” without requiring them to first learn about blockchain technology.
Related: Atari founder sees Web3 games as vital for virtual ownership and education
Proof of Play also emphasized its commitment to decentralization. Pirate Nation is described as a “Forever Game” capable of operating without external servers or direct intervention from the creators. The company further noted its intention to open-source its technology framework in the future to enhance decentralization.
The Proof of Play team comprises members from major gaming and technology companies, including Epic Games, Zynga, Electronic Arts (EA), Activision, and Google.
Large-scale funding rounds for Web3 companies have become commonplace in 2023. For instance, CCP Games, the developer of EVE Online, raised $40 million in March to develop a new spinoff title, while Hyperplay secured $12 million in June to expand its distribution platform and compete with Steam.
