Proof of Play, a company founded by Amitt Mahajan, co-creator of the popular game Farmville, has recently secured $33 million in funding to develop Web3 games. The announcement, made on September 21st, revealed that the funding was co-led by Chris Dixon at Andreessen Horowitz (a16z) and Neil Mehta at Greenoaks. Other notable investors include Naval Ravikant, Balaji Srinivasan, and Emmett Shear, co-founder of Twitch.
The main goal of Proof of Play is to create immersive Web3 games that overcome the common challenges faced by players when interacting with blockchain technology. The company claims to have developed a set of technological and product innovations that allow players to quickly engage in gameplay without the need to understand blockchain intricacies. This approach aims to lower the barrier to entry for new users and make Web3 gaming more accessible to the masses.
One of the key features that sets Proof of Play apart from other gaming companies is its commitment to decentralization. Their flagship game, Pirate Nation, is designed to be a “Forever Game” that can be played without the need for external servers or intervention from the creators. Furthermore, Proof of Play has expressed its intention to open-source its technology framework in the future, thereby enabling further decentralization of the gaming ecosystem.
The team behind Proof of Play boasts members with extensive experience in the gaming and web industry. Many of them have worked in renowned companies such as Epic Games, Zynga, EA, Activision, and Google. This diverse range of expertise ensures that the company is well-positioned to create high-quality and engaging Web3 games.
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The funding secured by Proof of Play is part of a growing trend in the Web3 gaming industry. In 2023, several multimillion-dollar funding rounds have been carried out by various Web3 companies. For instance, CCP Games, the developer of EVE Online, raised $40 million in March to develop a new spinoff game within the EVE universe. Similarly, Hyperplay, a gaming platform and Steam competitor, raised $12 million in June to further enhance its distribution platform.
The success of these funding rounds reflects the increasing recognition and interest in Web3 gaming. As the broader blockchain and cryptocurrency ecosystem continues to evolve, more investors are realizing the potential of this emerging sector. Web3 games are seen as a way to revolutionize the gaming industry by introducing new concepts such as virtual ownership and decentralized gameplay.
The funding secured by Proof of Play will be used to advance the development of Pirate Nation and other Web3 games in their pipeline. With their innovative approach, experienced team, and substantial financial backing, Proof of Play is well-positioned to make a significant impact in the Web3 gaming landscape.
In conclusion, Proof of Play, led by Amitt Mahajan and with the involvement of prominent investors such as Andreessen Horowitz and Twitch co-founder Emmett Shear, has secured $33 million in funding to create Web3 games. The company aims to overcome barriers to entry and make Web3 gaming more accessible through their technological innovations. With a commitment to decentralization and a team with extensive industry expertise, Proof of Play is poised to make a mark in the Web3 gaming industry.
