Pixelmon, a decentralised web3 gaming IP company, has raised a seed investment of US$8 million from investors, including Animoca Brands, Delphi Ventures, Amber Group and Bing Ventures.
Bitscale Capital, Cypher Capital, Foresight Ventures, Mechanism Capital, Sfermion, Spartan Labs, and VistaLabs also participated.
The startup will use the funding to continue developing its differentiated portfolio of casual and mid-core games.
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Founded by Giulio Xiloyannis, Pixelmon delivers ownership of IP and in-game assets through its fractionalised IP ecosystem Mon Protocol. Developed by LiquidX Studios, Pixelmon features mysterious creatures called Pixelmon. Taking place in the mythical world of Nova Thera, Trainers — the creature companions — must lead their team of Pixelmon to victory. Pixelmon incentivises players with NFTs with fractional IP benefits, where holders of these NFTs have ownership rights over a portion of an item’s or a character’s IP.
The funding follows the launch of Kevin the Adventurer (KTA), Pixelmon’s first hypercasual game. A second hypercasual game, PixelPals, which features pet and habitat management blended with trading card mechanics, is set to launch on Mantle this first quarter of 2024.
Pixelmon’s regular hypercasual releases have kept the community engaged while the team focuses on its major release for the core Pixelmon IP, including a rebuild of its free-to-play desktop title, Arena, to introduce survival-based horde gameplay, new Pixelmon abilities, and core game loops, targeting a 2024 release.
Further, Hunting Grounds, an open-world adventure game with RPG elements and PvP autobattler tournaments, is set for an open beta in 2024 and a full release in early 2025, with three distinct modes: combat, social hub/metaverse, and exploration.
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Pixelmon plans to grow its decentralised IP across verticals, including merchandise, trading card games (TCG), animated series, comic books, and more, via franchises, sublicenses and joint ventures.
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