TL;DR
- Elixir Games, a web3 gaming platform, has raised $14 million in a seed funding round.
- The funds will be used to launch its native token “$ELIX” and its “Launchpad & Incubation Program” to support web3 gaming developers.
- Illuvium has secured $12 million in a series A funding round, backed by investors like King River Capital and Animoca Ventures. The funds will be directed towards developing new games within its ecosystem.
The online gaming industry continues to grow exponentially, driven by technological innovation and the increasing adoption of blockchain technology. Amid this boom, two recent significant developments have caught the attention of both the community and investor groups.
Firstly, Elixir Games, a web3 gaming platform, announced the successful raising of $14 million in a seed funding round. The funds come from various entities, including the Solana Foundation, Square Enix, and Shima Capital, among others. The raised capital will be allocated to launching its native token, “$ELIX,” and implementing its “Launchpad & Incubation Program.” The primary goal of the program is to provide greater support to web3 gaming developers and facilitate the launch of new games within the Elixir Games ecosystem.
📰 Excited to announce we’ve raised $14 Million on our Seed Round.
Backed by large gaming enterprises and venture partners that believe in the power of our cutting-edge tech @elixir_launcher.
Read more: https://t.co/XdZY2sjZui pic.twitter.com/LBoUpF0P7V
— Elixir Games (@Elixir_Games) March 27, 2024
Elixir Games CEO, Carlos Roldan, shared his expectations following the successful fundraising, highlighting the company’s commitment to innovation and excellence in the web3 industry. According to Roldan, the company’s focus is on building a strong community that promotes revolutionary gaming experiences.
Elixir Games Solidifies its Position in the Web3 Sector with its Focus on Excellence
On the other hand, Illuvium conducted a $12 million series A funding round. With investments from backers like King River Capital, Arrington Capital, and Animoca Ventures. The funds will be utilized to develop new games within the Illuvium ecosystem, in preparation for planned releases in the second quarter of 2024.
Additionally, a $100 million fund called the “Inevitable Games Fund” has been launched. It was created in collaboration between King River Capital, Immutable, and Polygon Labs. Its aim is to identify high-growth opportunities in the web3 gaming space.
The web3 gaming sector demonstrates maturity and steady growth. With a continuous flow of funding and new initiatives. The industry is expected to continue expanding and offering increasingly immersive gaming experiences.