Pixelverse Secures an additional $2 million from Web3 VCs 
Cryptocurrency Jul 12, 2024 Share
Pixelverse, a Web3 brand and game ecosystem, has successfully raised an additional $2 million in private funding, bringing its total to $7.5 million, as per the latest updates shared with Finbold on July 12.
The funding came from Galaxy Interactive, Crit Ventures, and Arc Community, with angel investors including Alex Kruger, Coco Bear, Luke Belmar, and The Block founder Mike Dudas joining them.
Hopefully, the new investment round will fuel the expansion of the Pixelverse ecosystem, which is home to millions of players.
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Bringing Web3 intellectual properties into the real world
The initial $5.5 million round saw investments from key players like Delphi Ventures, Merit Circle, and Mechanism Capital.
Pixelverse’s cyberpunk-themed browser and Telegram (TON) games have drawn in over 70 million registered and 13 million active daily users, showing strong demand for Web3 mobile games within the Telegram ecosystem.
Kori Leon, Co-Founder and COO of Pixelverse, commented on the team’s focus on long-term sustainability, stating:
“Pixelverse started as a Web3 gaming ecosystem, and we are now bringing web3 IPs to the real world. Crypto is still intimidating for many users, so we are making it accessible to all through gaming mechanics. We are expanding into Pixelverse media and several product lines to ensure the long-term sustainability and profitability of our operations. This fundraising will support our growth right before our TGE which is coming this summer.”
Transforming Web3 on the growing TON ecosystem
Pixelverse is dedicated to transforming Web3 gaming by leveraging the attention economy to create highly engaging experiences.
Ryan You, Partner and Co-Head of Gaming at Galaxy Interactive, praised Pixelverse’s innovative approach, stating:
“Pixelverse has brilliantly navigated the critical challenge of disseminating their visionary concepts and products. By driving Web3 adoption around the TON ecosystem and engaging 70 million players across their games and third-party titles on their platform, Pixelverse is effectively managing the economy and community in the new digital age. We are pleased to support Pixelverse in their journey, recognizing their potential to set new benchmarks in the integration of decentralized technologies and interactive entertainment.”
Combining Telegram’s tap-to-earn mechanics with social features, Pixelverse has onboarded millions of players to mobile games featuring popular characters from both crypto and Web2 IPs.
Pixelverse has become a leading developer of Telegram mini-app games, capitalizing on the network effects of Telegram’s 700 million users.
Its ability to create mass market-friendly games has caught the attention of VCs keen on tapping into the burgeoning TON ecosystem.
