Bitkraft and Hashed lead $10 million round for crypto gaming studio Avalon
Bitkraft Ventures and Hashed co-led a $10 million funding round for crypto gaming studio Avalon, which is slated to release a massively multiplayer online game. Later this year, players will be invited to play a closed, early-access version of the game, also called “Avalon.”
The company's first game, also called "Avalon," is being built by a team of people with experience working for major web2 gaming companies. To develop the title, Avalon has partnered with "artificial intelligence pioneers Didimo and Inworld AI," the company said in a statement.
“The Avalon universe prioritizes delivering an immersive gameplay experience by combining cutting-edge tech like Unreal Engine 5 with AI-assisted user-generated content systems," Avalon CEO and founder Sean Pinnock said in the statement. "Our focus on a no-code solution enables players to create game logic effortlessly. Plus, our upcoming NFT collection will introduce AI-powered avatar NFTs."
Pinnock previously worked at Electronic Arts and Microsoft, according to his LinkedIn.
"Through vibrant, complex and yet easy-to-build [user-generated content] experiences Avalon can make a significant contribution to the rise of the Synthetic Reality, and with it enable experiences with deep economies," said Carlos Pereira, a partner at Bitkraft Ventures, according to the statement.
Synthetic Reality refers to the generation and simulation of digital worlds and systems.
A spokesperson said players will be invited to play "Avalon" in a closed, early-access version of the game, which will be available later this year.
Other participants in the funding round included Coinbase Ventures, Spartan Capital, Foresight Ventures, LiquidX, and Momentum6, Avalon said.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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