Pixelverse Secures $5.5M in Funding to Expand Web3 Gaming Ecosystem

12 Jun 2024

Pixelverse, a Seoul-based entertainment studio and game ecosystem, has successfully raised $5.5M in a funding round led by prominent venture capital firms and influential founders from the gaming and Web3 industries. The company plans to utilize the funds to further expand its gaming ecosystem, which has already attracted an impressive 15 million users within its first month of operation.

The funding round saw participation from notable investors such as Delphi Ventures, Merit Circle, Mechanism Capital, Bitscale Capital, Ghaf Capital, Big Brain Holdings, LiquidX, and Foresight Ventures. Additionally, angel investors, including Sébastien Borget, founder of The Sandbox, Luca Netz, Dingaling, DCF GOD, Grail, and James Kwon, also contributed to the round.

Pixelverse's rapid growth and success in the Web3 gaming landscape have positioned the company as a pioneer in the industry. With its quest-based cyberpunk browser and Telegram games, Pixelverse has garnered over 15 million registered users and more than 5 million daily active users. The platform's unique approach to gaming has the potential to bridge the gap between Web2 and Web3, making it a strong contender to become the first platform to transition 100 million Web2 gamers to its Web3 ecosystem.

Kori Leon, COO of Pixelverse and former Binance Listing team member, expressed enthusiasm about the company's achievements, stating, "Never in my time at Binance did I see a company with such strong adoption metrics in such a short space of time." Leon further emphasized the significance of closing this funding round, as it will enable Pixelverse to expand its adoption strategy and continue its journey to become a leading gaming and entertainment hub globally.

Piers Kicks, founding partner of Delphi Ventures, commended Pixelverse's aggressive approach to leveraging Telegram's distribution to drive a massive audience into their ecosystem. Kicks expressed excitement about the team's ability to deliver on their ambitious roadmap this year, taking into account market trends and community feedback.

Pixelverse's innovative Tap-to-Earn model has been a key factor in its success, rewarding regular engagement with fun Web3 games and mini-apps. The company operates at the intersection of GameFi and SocialFi, with its Tap-to-Earn format earning it the nickname "the NotCoin of gaming." The platform's Telegram mini-app, PixelTap, sees more than 10 million battles waged daily, showcasing the high level of user engagement.

Final Thoughts

Pixelverse plans to expand its browser-based realm to encompass a universe filled with multiple mini-games and immersive storytelling. The company has onboarded a world-renowned art director and world builder to help bring this vision to life, with further details to be announced in the near future.

As Pixelverse continues to grow and attract a diverse user base, it is well-positioned to become a major player in the Web3 gaming industry. The company's ability to create engaging, accessible experiences while introducing users to the benefits of Web3 technology sets it apart from its competitors. With the backing of prominent investors and a clear vision for the future, Pixelverse is poised to make a significant impact on the gaming landscape and drive the adoption of Web3 technology among mainstream gamers.

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