HomeNewsPixion Games Harnesses Avalanche for Web3 Venture: Raises $5.5M for Flagship Game...

Pixion Games Harnesses Avalanche for Web3 Venture: Raises $5.5M for Flagship Game Fableborne

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  • Pixion Games has secured $5.5 million in a seed funding round to bolster the development of its prime Web3 game, Fableborne.
  • Investors include Avalanche Foundation’s Blizzard Fund, Shima Capital, and ReadyPlayerDAO, demonstrating continued confidence in the Web3 gaming sphere.

Pixion Games, a progressive Web3 gaming studio, has successfully clinched $5.5 million in a seed funding round. The funding is targeted towards the enhancement of Fableborne, Pixion’s pioneering game in the blossoming arena of blockchain-based gaming.

This funding round was graced by the participation of prominent investors including the Avalanche Foundation’s Blizzard Fund, investment firm Shima Capital, and gaming decentralized autonomous organization (DAO), ReadyPlayerDAO.

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Fableborne is envisaged as an action-centric role-playing game, offering players a dynamic experience with on-chain assets anchored on the Avalanche network. Kam Punia, the founder and CEO of Pixion Games, shared with CoinDesk his ambition to scale the game by augmenting its tech stack and adding to the leadership team.

Punia explained,

“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. That’s what we’re really trying to build as an experience for players.”

Involving players in the developmental phase through playtests, the game is slated for a public launch within the forthcoming year.

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Despite the wider crypto market experiencing a slowdown, Web3 gaming has been an outlier, continuing to attract investor interest. Further testament to this trend was the recent $10 million seed funding secured by Web3 gaming studio Argus to create its proprietary gaming software developer kit. Moreover, last week’s news saw Anichess, a decentralized chess game, acquire $1.5 million in seed funding, led by gaming giant Animoca Brands.

These funding trends underscore the escalating interest and confidence in the Web3 gaming industry, fueling its growth, and paving the way for an increasingly decentralized, player-centric future in gaming.

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Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
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