Proof of Play, a gaming company led by Farmville co-creator Amitt Mahajan, has secured $33 million in funding to develop Web3 games, according to an announcement on September 21. The CEO of Proof of Play, Mahajan, and Twitch co-founder Emmett Shear are both involved in the venture.
Funding and Investors
The funding round was co-led by Chris Dixon at Andreessen Horowitz (a16z) and Neil Mehta at Greenoaks. Notable investors include Naval Ravikant, Balaji Srinivasan, and the founders of streaming platform Twitch. Web3 firms such as Anchorage Digital, Mercury, Firebase, Zynga, and Alchemy also participated in the funding.
Pirate Nation: A Game Changer
Proof of Play has already released a closed beta of their first game, Pirate Nation, in December 2022. The company claims to have overcome common roadblocks that players face when trying to play Web3 games. They state that their "technological and product innovations" enable players to dive straight into fun gameplay without the need to learn about blockchain.
Embracing Decentralization
Proof of Play is dedicated to decentralization. Pirate Nation is a "Forever Game" that can be run without external servers or intervention from its creators. The company plans to open-source its technology framework in the future, aiming to further decentralize the gaming experience.
Experienced Team
The Proof of Play team consists of members from renowned gaming and web companies, including Epic Games, Zynga, EA, Activision, and Google. Their expertise and experience in the industry will play a crucial role in developing innovative Web3 games.
A Trend in Web3 Funding
The multimillion-dollar funding rounds from Web3 companies have become increasingly common in 2023. For instance, CCP Games, the developer behind EVE Online, raised $40 million in March for a new spinoff EVE game. Additionally, Hyperplay secured $12 million in June to expand its distribution platform and compete with Steam.
