- Pixelmon, a decentralized web3 gaming intellectual property (IP), secures $8 million in seed funding.
- Notable investors include Animoca Brands, Delphi Ventures, Amber Group, and others.
- The funding will be utilized to advance Pixelmon’s diverse portfolio, including casual and mid-core games, leveraging its IP fractionalization system, Mon Protocol.
Pixelmon, a decentralized web3 gaming intellectual property (IP), has successfully secured a seed investment of $8 million. The game received funding from web3 institutions such as Animoca Brands and Delphi Ventures.
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Pixelmon Seed Funding
As per the announcement, the recently acquired funds will be deployed to propel the advancement of Pixelmon’s varied portfolio, including casual and mid-core games. Pixelmon utilizes its IP fractionalization system, Mon Protocol, granting ownership of IP and in-game assets.
“The decentralized IP system that Mon Protocol is establishing is significant because it will empower creative communities and IP core fan bases to participate actively in the long-term success of a consumer franchise, taking full advantage of true digital ownership and network effects. I am thrilled to see Pixelmon further develop its ecosystem of games and become the leading global 18-35 monster collecting IP,” Yat Siu, co-founder and executive chairman of Animoca Brands stated.
Aside from the abovementioned investors, prominent contributors in the investment round included Amber Group, Bing Ventures, Bitscale Capital, Cypher Capital, Foresight Ventures, Mechanism Capital, Sfermion, Spartan Labs, VistaLabs, and more.
In addition, the funding round also garnered support from a diverse group of founders, angels, key opinion leaders (KOLs), and ecosystem partners. Notable angel investors included Ray Chan, founder of 9GAG Inc., Kun Gao, founder of Crunchyroll, Robbie Ferguson, co-founder of Immutable, Gabby Dizon, co-founder of Yield Guild Games (YGG), and founders of cryptocurrency exchanges Bit2Me and Tokocrypto, along with web3 advisory firm Emfarsis.
“We are very excited to be backing Pixelmon on the next chapter of their journey. The ecosystem has shown massive resilience in accumulating its early battle scars and lore, and we believe the team led by Giulio is strongly positioned to show the world what IP forged in the fiery flames of crypto is capable of,” Piers Kicks, Delphi Ventures Founding Partner, commented.
Pixelmon also got support from high-profile KOLs such as Alex Becker, FaZe Banks, Gorilla, Seatin, Loopify, NFTboi, EllioTrades, and Zeneca were also contributors. Moreover, ecosystem support was extended by Mask Network, Merit Circle, and Ordzaar.
Pixelmon had a solid treasury prior to this funding, guaranteeing financial stability until 2027 based on the current burn rate.
Accordingly, Pixelmon expressed its intention to expand its decentralized IP into various sectors such as merchandise, trading card games (TCG), animated series, comic books, and more. This expansion will be facilitated through franchises, sublicenses, and joint ventures.
“Mon Protocol opens a new and exciting phase in the Pixelmon journey, with $MON as the ecosystem token powering all of our games as well as our fractionalized IP ecosystem. We all know that the Pixelmon journey was a nonlinear one, so we are honored to have such high-caliber founders and experienced ecosystem partners joining us now,” Giulio Xiloyannis, Pixelmon lead, affirmed.
He further emphasized that the substantial support they hve garnered is evidence of Pixelmon’s genuine resurgence from its challenging initial mint, showcasing Web3’s unwavering commitment to ensuring success in the industry.
Simultaneously, the game developer highlighted that the ongoing release of their hypercasual games plays a pivotal role in sustaining community engagement, allowing the team to focus on a substantial release for the core Pixelmon IP.
Pixelmon IP Games
- Kevin the Adventurer
Released in October 2023 on Coinbase’s native Layer 2 platform, Base, Kevin the Adventurer (KTA) marked Pixelmon’s inaugural venture into hypercasual gaming.
The game revolves around the lead character, Kevin, is a cute and adventurous pixelmon who loves to explore the world and collect treasures. The side-scroller garnered significant traction with 36,000 active players and a total of 10,100 hours played during its launch month.
PixelPals, the second hypercasual game from Pixelmon, is currently in development, with its release date yet to be announced. It is a mobile-based game built on the Mantle network.
It combines pet and habitat management with trading card mechanics. Players can level up their pets, manage habitats, and engage in fast-paced card dueling battles against other pets. As players progress through levels, they have the opportunity to earn $USDT and PixelCard non-fungible tokens (NFTs).
- Hunting Grounds
Hunting Grounds, still a working title for the game, is an open-world adventure game featuring role play game (RPG) elements and player-vs-player (PvP) auto battler tournaments. It is scheduled for an open beta in 2024 and a full release in early 2025. The game encompasses three distinct modes: combat, social hub/metaverse, and exploration.
According to the announcement, the free-to-play desktop game, Arena, is set to undergo a comprehensive revamp, introducing survival-based horde gameplay, new Pixelmon abilities, and core game loops.
As per the Pixelmon website, the working title for the revamp is “Battle Arena”; it is anticipated for release this year.
What is Pixelmon?
The initial concept for Pixelmon was to create an open-world, Pokémon-style NFT RPG game. The project gained massive popularity during its mint in February 2022, raising over $70 million in ETH. However, issues arose as the project’s founder, Martin van Blerk, lacked a concrete development plan. Moreover, the revealed NFT artwork was criticized for being subpar.
Despite negative perceptions, Pixelmon’s trajectory changed with new leadership. In September 2022, LiquidX, a Web3 venture studio, acquired a 60% stake in Pixelmon, with Giulio Xiloyannis becoming CEO. Following this, a new team was formed along with a revamped roadmap.
This article is published on BitPinas: Web3 Game Pixelmon Raises $8 Million, Readies MON Token and Protocol
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