New era? Pixelmon, a decentralized gaming IP company just raised an $8M seed to boost the development of their games. 

Investor check. Animoca Brands, Delphi Ventures, Amber Group, and Bing Ventures invested!

• Bitscale Capital, Cypher Capital, Foresight Ventures, Mechanism Capital, Sfermion, Spartan Labs, and VistaLabs also joined the round.

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⏪ Rewind

The funding is a fresh start for the firm, which received online flak in 2022 when they revealed “poor-quality” NFT artwork after a $70M mint.

• Twitter users called out the shoddy quality of the NFTs, with some even alleging that the project was a scam. 

The aftermath. In response, Pixelmon founder Syber apologized on Discord and called the reveal a “horrible mistake”. Later that year, VC firm LiquidX bought a 60% stake in Pixelmon.

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🏗️ The ABCs of Pixelmon

Does Pixelmon look and sound familiar? Well, their open-world concept, gameplay, and artwork are similar to another beloved game, Pokemon!

• Taking place in the world of Nova Thera, trainers must lead their team of Pixelmons to victory. 
• Through Pixelmon’s fractional IP benefits, NFT holders have ownership rights over a portion of an item’s or character’s IP.

And their releases? Pixelmon launched their first hypercasual game, Kevin the Adventurer last year.

• A second hypercasual game called PixelPals is in the works and is set to launch on Mantle in Q1 this year. 

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🐲 What the future holds? 

They’ll use the $$$ to boost the development of their portfolio of casual and mid-core games.