Proof of Play Raises $33 Million in Seed Funding
Proof of Play, the game studio behind the blockchain-based social role-playing game Pirate Nation, has announced that it has secured $33 million in seed funding. The funding round was co-led by Andreessen Horowitz and Greenoaks Capital. The company plans to use the funds to expand its operations and scale its technology, which enables fully on-chain games that can exist indefinitely.
The studio was founded by Amitt Mahajan, who was previously involved in creating the popular game FarmVille at Zynga. Emmett Shear, co-founder of Twitch, has joined Proof of Play’s board as part of the funding round. Other participants include Naval Ravikant, co-founder of AngelList, and Balaji Srinivasan, former CTO of Coinbase.
Creating Forever Games with Blockchain Technology
Mahajan explained that the experience of seeing FarmVille being taken offline inspired him to explore blockchain technology for creating “forever games.” He expressed his desire to design multi-generational products that outlast their creators and are owned by the communities that play them.
Pirate Nation was initially launched on Polygon but later migrated to Ethereum scaling network Arbitrum Nova to reduce network fees. Despite running on a blockchain, Proof of Play allows players to customize and expand the game by remixing and adding their own content.
Free-to-Play Access and NFT Benefits
Proof of Play has also announced that it is rolling out free-to-play access to Pirate Nation. Players will be able to create a free character without owning an NFT. However, NFT owners will have various added benefits compared to free players. The company aims to provide a more casual experience for a broader audience with the free-to-play version.
Open-Sourcing Technology for On-Chain Games
In addition to its funding news, Proof of Play revealed plans to open-source its technology for building fully on-chain games. The company aims to empower other creators to develop their own games and apps using the same tools.
Hot Take: Revolutionizing Gaming with Blockchain
Proof of Play’s successful seed funding round demonstrates the growing interest and investment in blockchain-based gaming. By leveraging blockchain technology, the company aims to create timeless games that are owned by the players themselves. The migration to Arbitrum Nova showcases the ongoing search for more cost-effective solutions within the Ethereum ecosystem. With the introduction of free-to-play access, Pirate Nation is poised to attract a wider audience while still offering benefits to NFT owners. By open-sourcing its technology, Proof of Play is encouraging innovation and collaboration within the gaming industry. This funding round marks an important milestone in the development of blockchain gaming and its potential for revolutionizing the way we play and own games.
By
By
By
By