Animoca Brands invests $10 million in a blockchain gaming company
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Answer Animoca Brands invests $10 million in a blockchain gaming company
Blockchain gaming company Lava Labs has announced that it has raised $10 million in its latest Series A funding round.
The company’s valuation has now exceeded $100 million.
The London-based blockchain gaming startup is planning to allocate new funding to develop a new multiplayer 3rd web game called AFAR.
Lava Labs’ official release revealed that the funding was led by Swiss venture capital firm Dialectic.
The financing round also saw the participation of:
Animoca Brands, Dragonfly, Defiance, Merit Circle, Dapper Labs and more, as well as angel investors – Nick Chong, Santiago R Santos and Gabby Dizon.
The investors will enable the game studio to accelerate the team’s growth and development of the game, according to the company’s statement.
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After the announcement, Kaya Telif, CEO and Creative Director of Lava Labs commented:
We are incredibly excited to set the tone for blockchain gaming with a laser focus on gaming fun.
The early community support was very exciting.
The money will be directed towards AFAR – a multiplayer game with 25 players competing against each other in four-minute, four-round battles.
The gaming platform also said that players will be able to start using their land in a mini-game in the second quarter of this year while development of the main game continues.
Speaking about the latest round of funding, Dialectic founder Ryan Zerer said:
Lava Labs is on its way to becoming Web Pixar 3.
When you see the gameplay in AFAR, the immediate reaction is this game and this team are totally next levels
The funding round was reportedly closed in February, and immediately after that the company announced the sale of a future virtual land exactly later this year.
Lava Labs was founded in 2019 with the support of Trip Hawkins, founder of the American video game company Electronic Arts.
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Currently, Hawkins works as an executive coach and consultant for the studio.
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