Neon Machine Secures $20 Million in Series A Funding for Shrapnel Game Development
Seattle-based game studio Neon Machine has announced that it raised $20 million in Series A funding for the development of its upcoming first-person shooter game, Shrapnel. Leading the funding round was Polychain Capital, with participation from Griffin Gaming Partners, Brevan Howard Digital, Franklin Templeton, IOSG Ventures, and Tess Ventures.
The funding will be used to further advance the development of Shrapnel, which is set to release an early-access version in December 2023 before a full launch in 2024. Currently, the Shrapnel team consists of over 70 employees.
CEO Mark Long expressed the team’s vision to break away from traditional game development cycles and create a high-quality shooter game where players can truly own and create game assets.
Shrapnel: A Sci-Fi Extraction Shooter with NFT Integration
Shrapnel is a sci-fi extraction shooter game that will offer a significant amount of in-game content as non-fungible tokens (NFTs) on Shrapnel’s Avalanche subnet. The game has its own ERC-20 token called SHRAP, which was launched on the Avalanche network earlier this year.
In addition to offering both solo and team-based gameplay, Shrapnel places a strong focus on user-generated content (UGC). Players will have the ability to generate their own game items using Shrapnel’s technology, which can then be minted as NFTs.
Positive Reactions and Future Plans
Polychain Capital Partner Josh Rosenthal expressed excitement about Shrapnel’s potential in leveraging blockchain technology to redefine traditional gameplay. Similarly, IOSG Ventures Founding Partner Jocy Lin highlighted their enthusiasm for Shrapnel’s use of blockchain in extraction gameplay.
Neon Machine, which initially started as part of HBO Interactive, has now raised a total of $37.5 million from seed funding, Series A funding, and private token sale rounds. The studio has previously released comic books and launched a PFP NFT collection.
Hot Take: Neon Machine Raises $20 Million to Revolutionize Shooter Games with NFT Integration
Seattle-based game studio Neon Machine has secured $20 million in Series A funding to further develop its highly anticipated first-person shooter game, Shrapnel. The funding round was led by Polychain Capital, with several other prominent investors participating.
Shrapnel aims to break the mold of traditional game development cycles by offering players the opportunity to own and create game assets through the use of non-fungible tokens (NFTs). The game will be set in a sci-fi extraction shooter world and will feature both solo and team-based gameplay.
With an emphasis on user-generated content (UGC), Shrapnel plans to empower players to generate their own in-game items using the studio’s technology, which can then be turned into NFTs. This innovative approach has garnered excitement from both investors and industry insiders.
Neon Machine’s successful funding round is a testament to the growing interest in blockchain integration within the gaming industry. As Shrapnel prepares for its early-access release in December 2023, it is poised to redefine the gaming experience by combining cutting-edge technology with immersive gameplay.
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