Revolving Games, a blockchain-based game production company, has raised more than $25 million in its first two seed fundraising rounds.
Revolving Games raised $13.2 million in seed capital and $12 million in pre-seed funding. Investors who participated in the seed fundraising round included Grand Theft Auto producer Dan Houser, Animoca Brands, Polygon, Dapper Labs, and Pantera Capital.
Speaking on how to use the funds, the three brothers who co-founded Revolving Games, Saad, Ammar, and Shayan Zaeem said that they will utilize the recently obtained money to create “decentralized” games.
“Our goal is to develop AAA-quality games that stand out among the greatest new releases at prestigious gaming events like Gamescom and E3!” Revolving Games co-CEO Saad Zaeem stated.
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In a statement, co-CEO Ammar Zaeem stated, “We will be able to develop our technology and create a more scalable and decentralized games-centric future”.
Over the next two years, the company will finance original, fully decentralized web3 games with a total of $25 million.
Yat Siu, co-founder of Animoca Brands also stated, “We couldn’t be more excited about building out a true web3 ecosystem of fascinating, unique gaming experiences, and we see that reflected in the work being generated here”.
Revolving Games focuses on AAA games or video games with a larger budget and production value. AAA video game franchises include Grand Theft Auto, Halo, and Call of Duty. Blockchain-based AAA games are less prevalent than their mobile or web-based counterparts, even though blockchain gaming has increased over the past year thanks to the rapid rise of Axie Infinity.
There are already two verified games currently under development by Revolving Games. The first is “Battlestar Galactica,” a 4X strategy MMO blockchain game created in collaboration with Gala Games and NBCUniversal. It was initially introduced earlier this year during the Galaverse conference.
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