Game studio Neon Machine secures $20m in funding round led by Polychain

Seattle’s Neon Machine has secured $20 million in Series A funding, helmed by Polychain Capital, to advance development of its blockchain-integrated shooter game, “Shrapnel.”

Seattle-based game studio Neon Machine recently announced a $20 million influx from Series A funding led by Polychain Capital with participation from Griffin Gaming Partners, Brevan Howard Digital, Franklin Templeton, IOSG Ventures and Tess Ventures.

The funding is earmarked for the continued development of “Shrapnel,” a first-person shooter game, at what the company identifies as a “critical time,” as they gear up to release an early-access version in December, with a full launch slated for 2024.

Originally part of HBO Interactive, Neon Machine has established itself independently, amassing $37.5 million in funding from various rounds since its inception. The company boasts a workforce of over 70 employees, according to CEO Mark Long, and has diversified its portfolio, venturing into comic books and launching a PFP NFT collection in the previous year.

You might also like: DappRadar says on-chain blockchain gaming and DeFi activity up in Q1

“Shrapnel” is set to offer a blend of solo and team-based gameplay, with a significant emphasis on user-generated content (UGC). The game’s innovative approach allows players to create in-game items using the studio’s technology, which can then be minted as NFTs. This feature, along with the integration of blockchain technology for asset ownership, represents a foray into relatively uncharted territories in gaming.

The game’s reliance on blockchain and NFTs does raise questions however about the game’s accessibility and the potential for a steep learning curve for players unfamiliar with these technologies. Furthermore, the volatile nature of the crypto market could pose risks to the in-game economy, potentially alienating players and undermining the game’s long-term stability.

Despite these concerns, the recent funding round indicates investor confidence in Neon Machine’s vision. The inclusion of notable venture partners suggests a belief in the potential of combining blockchain technology with gaming.

It remains to be seen how the team will navigate the complexities of this integration and whether it will resonate with the broader gaming community.

Read more: SEGA, Double Jump Tokyo execs see future in blockchain gaming
Follow Us on Google News

Comments

Post a Comment

Popular posts from this blog

ETH’s Path Could Be Cleared To Reach $2,200: Analyst

Image
An analyst shared his predictions for BTC and ETH in an X post yesterday. If ETH can close this week between $1,796 and $2,148, the analyst predicts it could reach $2,200. The analyst also shared that he will remain bullish on BTC as long as it can stay above the $31.5K-$32.5K area. A Bitcoin enthusiast and analyst who goes by the name of Pentoshi shared his thoughts and predictions about BTC and Ethereum (ETH) in an X post yesterday. According to the analyst, if the price of ETH can close this week within the $2,148 and $1,796 range, it could open doors for the altcoin leader to climb to $2,200. $ETH Closing this weekly back inside the range opens up the doors to $2,200 Despite it severely underperforming BTC it's now beginning to enter the demand zone on the btc /eth ratio BTC is bullish as long as above the 31.5-32.5k area thus I'll continue to have bullish bias… pic.twitter.com/Hwoi8jwr2O — Pentoshi euroPeng (@Pentosh1) October 29, 2023 De
Read more

Prior to the launch of an ETF, Valkyrie reverses its purchase of ether futures contracts.

Image
In the realm of crafting written content, three critical elements come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity serves as the gauge for textual intricacy. Meanwhile, burstiness is the measure of sentence diversity, assessing the ebb and flow of sentence length and complexity. Lastly, predictability indicates the likelihood of anticipating the subsequent sentence. In human-authored content, you often encounter bursts of creativity, with a mosaic of lengthy, intricate sentences interspersed with concise ones. On the contrary, AI-generated content tends to maintain a more consistent rhythm. In light of these considerations, for the upcoming content I’m about to request from you, it’s imperative to strike a balance. We need a significant degree of perplexity and burstiness while minimizing predictability. Additionally, please adhere to the use of the English language exclusively. Now, let’s reimagine the following text: Speculation has arisen from Bloomberg
Read more

Coinbase CEO Brian Armstrong Addresses Regulatory Concerns in Crypto

CEO Brian Armstrong emphasized the need for clear regulations in the United States. Armstrong mentioned ongoing efforts in the US House of Representatives to establish a clear market structure. Coinbase feels confident in its legal case against the SEC, considering that the SEC has lost its last three-judge rulings. Coinbase CEO Brian Armstrong emphasized the need for regulatory certainty in the crypto space, saying “The US is lagging behind” in an interview with Yahoo Finance. Armstrong highlighted the large number of Americans who use crypto, which is 52 million, and stated that these people aren’t happy with the US because of its unclear regulations. The CEO believes that America doesn’t have clear rules like “83% of the rest of the G20 countries.” “There’s a couple of bills going through the House right now that would support how we can get clear market structure and stablecoins in the US,” Armstrong said. He added that Americans want this to happen,
Read more