Pixion Games, a Web3 gaming studio, has raised $5.5 million in seed funding to develop their flagship game, Fableborne. The round was backed by the Avalanche Foundation’s Blizzard Fund, Shima Capital, ReadyPlayerDAO, and other notable investors. The funds will be used to build out the tech stack and hire for leadership roles for Fableborne, an action-based role-playing game that allows players to interact with on-chain assets.
It’s really building what we call these competitive multiplayer games, mobile-first platform experiences, but having competitive tournaments and player-owned economies are at the heart of the core game, said Kam Punia, founder and CEO of Pixion Games. The game is currently inviting players to participate in playtests and is aiming for a public launch within the next calendar year.
Despite the bear market, Web3 gaming has seen investor confidence. Argus, another Web3 gaming studio, raised $10 million in seed funding to build out its own native gaming software developer kit. Anichess, a decentralized chess game, also raised $1.5 million in seed funding led by Animoca Brands.
We are thrilled to have the support of such a strong group of investors as we continue to build out Fableborne and the Web3 gaming ecosystem, said Punia.