BITKRAFT, HASHED Lead $10M Funding Round for Avalon’s New Online Game

Players can explore AVALON Core, the studio’s main gameplay mode, as well as user-generated worlds, seamlessly transferring their heroes, items, and progress between experiences.

Photo for the Article - BITKRAFT, HASHED Lead $10M Funding Round for Avalon’s New Online Game

Avalon, an independent game studio with veterans from the games EverQuest and Call of Duty, recently announced that it has successfully secured $10 million in funding. The investment will fuel the development of its debut multiplayer online role-playing game (MMORPG), AVALON, which features asset interoperability and progression across web2 and web3 gaming.

Avalon Secures Funding 

According to the media release, the game studio received support from BITKRAFT Ventures, HASHED, Coinbase Ventures, Spartan Capital, Foresight Ventures, LiquidX, and Momentum6.

BITKRAFT Ventures’ partner, Carlos Pereira, highlighted AVALON’s innovative approach to user-generated content (UGC), emphasizing its ability to create visually stunning and performance-flexible worlds.

“We believe that through vibrant, complex and yet easy-to-build UGC experiences AVALON can make a significant contribution to the rise of the Synthetic Reality, and with it enable experiences with deep economies and high crypto-genre fit.” 

Carlos Pereira, partner, BITKRAFT Ventures

Moreover, Baek Kim, HASHED’s general partner, also expressed enthusiasm about co-leading the investment round for AVALON. He praised the team’s extensive industry experience, evident in the game’s gameplay, graphics, and innovative use of technology and economy.

“AVALON has a clear vision for a limitless and cohesive online experience, and we’re excited to see this title come to life.”

Baek Kim, general partner, HASHED

What is Avalon?

The developers described Avalon as a revolutionary massively multiplayer online game focused on player empowerment and creativity. It is web3 based and powered by artificial intelligence.

Through partnerships with AI pioneers Didimo and Inworld AI, the game offers real-time interactions with characters in dynamic, evolving worlds.

Players can explore AVALON Core, the studio’s main gameplay mode, as well as user-generated worlds, seamlessly transferring their heroes, items, and progress between experiences.

Currently, AVALON is still in development for both PC and cloud streaming platforms. The developers noted that they have plans for closed early access scheduled for later this year.

“The AVALON universe prioritizes delivering an immersive gameplay experience by combining cutting-edge tech like Unreal Engine 5 with AI-assisted user-generated content systems. Our focus on a no-code solution enables players to create game logic effortlessly. Plus, our upcoming NFT collection will introduce AI-powered avatar NFTs, adding another layer of innovation.” 

Sean Pinnock, founder and CEO, AVALON

In addition, the press release highlighted that the studio behind the game, founded in 2021, boasts a team of award-winning veterans from top gaming studios such as Microsoft, Sony, and Ubisoft. With a history of delivering AAA titles across various genres, including MMOs, adventure games, and shooters, the team has worked on iconic franchises like EverQuest, Call of Duty, and Assassin’s Creed.

AI in Gaming

In a March 27 thread in X, Avalon explained how conversational AI is set to revolutionize gaming, and it chose Inworld AI.

According to the studio, these advancements include non-player characters (NPCs) with long-term memory support, scene awareness, dynamic relationships, realistic voices, style adaptation, and the ability to alter behavior based on in-game events.

Furthermore, NPCs will be able to exhibit multimodal awareness, goal-oriented behavior, and access to a vast wiki of world knowledge. Players can also contribute to the experience by creating their own NPCs with unique behaviors and backstories.

The game studio noted that it aims to create immersive worlds where player interactions with NPCs rival those crafted by developers, pushing the boundaries of gaming realism and engagement.

“We envision a future where the worlds that players create feel as real as ones crafted by us, with lifelike NPCs bringing depth of interaction in ways that have never before been possible. AVALON is at the forefront of this evolution,” they wrote. 

This article is published on BitPinas: BITKRAFT, HASHED Lead $10M Funding Round for Avalon’s New Online Game


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