News

Proof of Play secures $33 million seed funding for on-chain gaming revolution

Published

7 months ago

September 22, 2023

Proof of Play has successfully raised $33 million in a seed funding round, led by a16z and Greenoaks, with participation from prominent individuals in the tech and gaming industries.

These include Naval Ravikant, Balaji Srinivasan, Justin Kan, Josh Walden, Imad Mouline, Nikil Viswanathan, and Gabriel Leydon, among others.

This substantial investment reflects the growing interest and potential in the blockchain-based gaming sector.

Proof of Play aims to push the boundaries of blockchain technology by creating engaging and innovative games.

Proof of Play is a Web3 project focused on creating blockchain-based games that empower players with ownership.

Proof of Play is focused on building fun, complex, and innovative games that push the limits of modern blockchains.

Its first on-chain game, Pirate Nation, is an RPG that allows players to own and trade in-game assets. Proof of Play aims to create generation-defining games that grant power and ownership to the players who play them.

The company is focused on creating a more sustainable and equitable gaming ecosystem by leveraging blockchain technology and decentralized finance (DeFi).

Concerning the funds raised, Proof of Play said it wants to “craft uncompromisingly fun, accessible on-chain games,” with its technology seamlessly working in the background.

“We believe players’ concerns lie with enjoyment and ease of play, not the underlying infrastructure,” it added.

In addition to the funds raised, the company, led by CEO and co-founder, Sam Glassenberg, who previously founded Funtactix, creators of The Hunger Games and Mission: Impossible, recently appointed Emmett Shear, the Co-founder & former CEO of Twitch, to their board.

Despite the effect of the bear market in the Web3 space, several firms have raised funds to advance their vision. Some of them include Nestcoin, $1.9 million; Spatial Labs, Squid Protocol, $3.5 million; and Blockchain Capital, $580 million.