Proof of Play Secures $33 Million for Innovative Web3 Gaming Experience

Major Funding Round Brings New Life to Web3 Gaming

In a bold move to revolutionize the gaming landscape, Proof of Play, co-founded by Farmville innovator Amitt Mahajan, has successfully raised $33 million as announced on September 21. This hefty backing is a testament to the growing significance of Web3 gaming, where blockchain technology meets interactive entertainment.

Who’s Who Behind the Funding?

The funding round was co-led by Chris Dixon from Andreessen Horowitz (a16z) and Neil Mehta from Greenoaks. Among the diverse roster of investors are prominent figures like Naval Ravikant and Balaji Srinivasan, alongside founders of the much-loved streaming platform Twitch. In a display of collective optimism, firms such as Anchorage Digital, Mercury, Firebase, Zynga, and Alchemy also signed on.

Pirate Nation: A Glimpse into the Future

Proof of Play debuted their vision with the closed beta of their flagship game, Pirate Nation, in December 2022. The game aims to sweep players off their feet without drowning them in blockchain complexities. As the company claims, they tackle the obstacles players often face in Web3 gaming with a “set of technological and product innovations” designed for seamless fun.

A Commitment to Decentralization

In a world where many gaming companies cling to control, Proof of Play is charting a different course. They’re committed to decentralization, with Pirate Nation branded as a “Forever Game” — promising functionality without external servers or creator intervention. The crew is even planning to open-source their technological framework to push the decentralization agenda further.

A Star-Studded Team

Behind this ambitious venture is a talented team boasting experience from renowned gaming and tech giants. Members hail from powerhouses such as Epic Games, Zynga, EA, Activision, and Google, solidifying Proof of Play’s standing in both the gaming and Web3 arenas.

The New Normal: Multimillion-Dollar Rounds

2023 has made it clear that massive funding rounds have become the norm for Web3 companies. Proof of Play is following in the footsteps of others like CCP Games, which raised $40 million for a new EVE Online spinoff, and Hyperplay, which secured $12 million to bolster its distribution platform. Clearly, the wild west of Web3 gaming is attracting serious investors eager to cash in on its potential.