Proof of Play Raises $33M For Web3 Gaming Development, Launches Closed Beta of 'Pirate Nation'
Summary:
Proof of Play, led by Farmville co-creator Amitt Mahajan, raised $33 million to develop Web3 games. The funding effort was co-led by Andreessen Horowitz and Greenoaks with participation from Naval Ravikant, Balaji Srinivasan, Twitch founders, and Web3 firms including Anchorage Digital and Zynga. Proof of Play launched a closed beta of its game, Pirate Nation, in December 2022, aiming to simplify Web3 gaming via unique technological innovations without the prerequisite of blockchain knowledge. Dedicated to decentralization, the company plans to open-source its technology framework for wider decentralization.
A gaming firm named Proof of Play, spearheaded by Farmville's co-inventor Amitt Mahajan, has successfully raised $33 million for the development of Web3 games as revealed in a statement made on Sept. 21. The company’s top executive is Mahajan, and among the board members is Emmett Shear, one of the founders of Twitch. Investment giants Chris Dixon at Andreessen Horowitz (a16z) and Neil Mehta at Greenoaks notably led this funding initiative. Alongside them, other investors included Naval Ravikant, Balaji Srinivasan, and the brains behind streaming giant Twitch. Furthermore, several Web3 establishments such as Anchorage Digital, Mercury, Firebase, Zynga, and Alchemy also contributed to the funding.
In December 2022, Proof of Play kicked off a private beta version of its inaugural game, Pirate Nation. The organization declared in its statement that it's capable of overcoming numerous hurdles that gamers typically face when trying to play Web3 games. They assured that with their unique blend of technological advancement and product innovation, players could instantly enjoy exciting gameplay – and all without the need to understand blockchain technology first.
Proof of Play further expressed its dedication to decentralization with the game Pirate Nation, described as a "Forever Game," designed to operate without reliance on external servers or the need for developer interference, thereby suggesting possible plans to publicize its technology architecture down the line to facilitate greater decentralization.
The Proof of Play team comprises experienced individuals from numerous influential gaming and web organizations, such as Epic Games, Zynga, EA, Activision, and Google. In 2023, multi-million dollar funding rounds conducted by Web3 businesses have increasingly become commonplace. The developer behind EVE Online, CCP Games, managed to amass $40 million in March for a new EVE game spinoff, while Hyperplay accumulated $12 million in June aiming to optimize its delivery platform and a potential contender to Steam.
Published At
9/21/2023 3:00:00 PM
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