Pixelverse has raised an additional $2 million from venture capital firms and individual investors, the company said in a statement, shortly after launching its Telegram-based cryptocurrency game.
According to a statement, Galaxy Interactive, Crit Ventures, and Ark Community participated in the fundraising, along with well-known individual investors in the cryptocurrency space, including Alex Kruger, Luke Velmar, Mike Dudas, and Coco Bear, a pseudonymous person.
“We are expanding Pixelverse Media and its multiple product lines to ensure long-term sustainability and profitability of our operations,” Pixelverse co-founder and COO Cory Leone said in a statement. “This fundraising will support our growth as we head into TGE this summer.”
So far Pixelverse has $7.5 million. Other backers of the Web3 Games project These include Delphi Ventures, Merit Circle, and Mechanism Capital.
“Pixelverse’s quest-based cyberpunk browser and Telegram game has over 70 million registered users and 13 million daily active users,” the project also said in a statement. The developers behind the nascent gaming ecosystem recently released PixelTap, a tap-to-earn game that uses the TON blockchain and can be accessed via the Telegram messaging app.
Telegram Clicker Game
Telegram clicker games that utilize the TON blockchain, allowing players to earn in-game rewards, have gained traction recently thanks to titles like Hamster Kombat and Notcoin. Hamster Kombat claims to have over 250 million users, though that total number likely includes an uncertain number of bots.
The TON blockchain was originally called Telegram Open Network when it launched on the messaging app. Popular in the cryptocurrency community, Telegram is nearing 1 billion users.
Mike Dudas is the co-founder and former CEO of The Block. He no longer has a financial interest in The Block.
Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.