Home Blockchain a16z Backs $33M Raise for Blockchain Game Studio Proof of Play

a16z Backs $33M Raise for Blockchain Game Studio Proof of Play

by Abigail Bautista

Proof of Play, a decentralized game studio and blockchain technology company, has recently raised $33 million in a seed round. The funding was co-led by Andreessen Horowitz (a16z) general partner Chris Dixon and Greenoaks founder and managing partner Neil Mehta. This investment will allow Proof of Play to expand its studio and technology teams and further develop on-chain games centered around autonomous worlds.

The game studio, based in Silicon Valley, was founded by industry veterans from major game companies such as Epic Games, Zynga, Electronic Arts (EA), and Activision Blizzard. The CEO of Proof of Play, Amitt Mahajan, was one of the co-creators of FarmVille, which was the first breakout game on Facebook. The startup also announced that Emmett Shear, former CEO of Twitch, has joined its board.

Proof of Play’s first title, Pirate Nation, is a free-to-play role-playing game that utilizes decentralized infrastructure. The aim is to create a “forever game” that does not rely on external servers or interventions to sustain its operations. Players will have the power to shape the in-game world by adding or removing content, ensuring a dynamic and evolving gaming experience. Furthermore, Proof of Play plans to open-source its tech framework, allowing other creators to easily utilize the infrastructure and produce new on-chain games and applications.

The seed round attracted a diverse range of investors, including Naval Ravikant, Balaji Srinivasan, the founders of Twitch, Anchorage Digital, Mercury, Firebase, Zynga, and Alchemy. Chris Dixon, the co-lead of the funding round, expressed excitement about backing Proof of Play, stating that they are building an on-chain gaming future with a focus on composability, interoperability, and permanence. This approach allows players to truly own their in-game assets and enables anyone to create a new game on top of another.

The news of this funding round comes shortly after a16z’s involvement in a $3.6 million funding round for Freatic, a crypto firm developing a decentralized information protocol. These recent investments highlight a strong interest in blockchain technology and its potential for transforming various industries, including gaming and information sharing.

As Proof of Play continues to develop its on-chain games and expand its offerings, it will be interesting to see how it shapes the future of gaming and brings about greater ownership and engagement for players. With its experienced team and the backing of prominent investors, the studio is well-positioned to make a significant impact in the gaming industry and beyond.

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