Pixelverse raises additional $2 million from leading Web3 VCs, hits $7.5 million funding goal

Just a month after securing $5.5 million to fuel its rapid growth and accelerate the mass adoption of Web3 gaming, metaverse upstart Pixelverse announced Friday that it raised an additional $2 million in private funding. Recognizing the company’s rapid momentum and growth trajectory, investors opened their wallets with further financial support to support Pixelverse’s burgeoning expansion. The round brings Pixelverse’s total funding to $7.5 million.

The latest round drew participation from leading Web3 venture capital firms. Leading the $2 million investment were Galaxy Interactive, Crit Ventures, and Arc Community. The round also featured prominent angel investors such as Alex Kruger, Coco Bear, Luke Belmar, and The Block founder Mike Dudas. These funds are earmarked to bolster the growing Pixelverse ecosystem, which boasts a suite of mobile mini-games and media that have captivated millions of players globally.

Pixelverse plans to leverage this fresh capital injection to further accelerate the mass adoption of Web3 gaming, potentially onboarding millions of gamers into blockchain-powered ownership and economies.

Kori Leon, Co-Founder and COO of Pixelverse, commented on the funding: “Pixelverse began as a Web3 gaming ecosystem, and now we’re bringing Web3 intellectual properties to the real world. Crypto can be daunting for many, so we’re simplifying access through gaming mechanics. We’re expanding into Pixelverse media and diverse product lines to ensure our long-term sustainability and profitability. This funding comes at a pivotal moment, right before our Token Generation Event (TGE) this summer.”

The initial $5.5 million raise attracted lead investors such as Delphi Ventures, Merit Circle, and Mechanism Capital. Pixelverse’s quest-based cyberpunk browser and Telegram games have garnered over 70 million registered users and 13 million daily active users, underscoring the demand for Web3 mobile games within the Telegram and TON ecosystem.

Ryan You, Partner and Co-Head of Gaming at Galaxy Interactive, praised Pixelverse’s strategic prowess: “Pixelverse has adeptly overcome the challenge of spreading their visionary concepts and products. By driving Web3 adoption within the TON ecosystem and engaging 70 million players across their games and third-party titles on their platform, Pixelverse is effectively navigating the economy and community of the new digital age. We’re thrilled to support Pixelverse, recognizing their potential to set new benchmarks in the integration of decentralized technologies and interactive entertainment.”

Pixelverse is on a mission to revolutionize Web3 gaming by leveraging the attention economy to craft highly engaging player experiences. Combining Telegram’s popular tap-to-earn mechanics with innovative social features, Pixelverse has swiftly onboarded millions of players to mobile games powered by beloved characters from both crypto-native and Web2 IPs.

Emerging as a premier developer of Telegram mini-app games, Pixelverse has harnessed the network effects of Telegram’s 700 million users while creating mass-market-friendly games, attracting the interest of VCs keen on the growing TON ecosystem.

In Pixelverse’s Telegram mini app, PixelTap, over 10 million battles occur daily. The browser-based Pixelverse realm is set for further expansion, promising a universe brimming with multiple mini-games and immersive storytelling. Renowned art directors and world builders are set to join, enhancing the gaming experience.

Founded in 2020 in Seoul, South Korea, Pixelverse is a cyberpunk-themed entertainment studio and game ecosystem making Web3 fun and accessible for the masses. By creating low-barrier entry games that introduce users to Web3, Pixelverse offers true ownership of in-game assets and rewards dedicated players, crafting an immersive gaming experience aimed at mass adoption and Web2 gamers.