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Proof of Play Secures $33M for Web3 Gaming

David - Cryptocurrency Specialist

In a significant boost to the NFT market and cryptocurrency investment landscape, Proof of Play, steered by Farmville co-creator Amitt Mahajan, has amassed $33 million. This funding is geared towards the development of Web3 games, symbolizing the seamless merger of NFT crypto with gaming.

According to the Sept. 21 announcement, this move reaffirms the potential and vitality of the non fungible tokens domain, especially in the gaming sector. Notably, Emmett Shear, co-founder of Twitch, sits on the board of Proof of Play, lending further credibility to the venture.

Chris Dixon of Andreessen Horowitz (a16z) and Neil Mehta from Greenoaks jointly spearheaded the funding round. Several prominent names in the crypto portfolio, including investors Naval Ravikant, Balaji Srinivasan, and the brains behind the streaming titan Twitch, contributed. Renowned Web3 companies, including Anchorage Digital, Mercury, Firebase, Zynga, and Alchemy, also threw their weight behind the project.

Pirate Nation, the maiden game from Proof of Play, debuted its closed beta version in December 2022. The company’s vision is clear: they aim to eliminate the hurdles typically associated with Web3 games. Their unique blend of technology and product offerings is designed to captivate players with thrilling gameplay, negating the need to grasp the complexities of blockchain beforehand.

Commitment to decentralization stands paramount for Proof of Play. The concept of a “Forever Game” as seen with Pirate Nation, which functions independently without necessitating external servers or creator oversight, underscores this dedication. Additionally, in line with the spirit of secure cryptocurrency and decentralization, Proof of Play has revealed intentions to make its technology framework open source, fostering a more decentralized future.

The company's core team is a powerhouse, boasting veterans from gaming behemoths such as Epic Games, Zynga, EA, Activision, and tech giant Google.

2023 has witnessed a surge in multimillion-dollar financing for Web3 entities. For instance, EVE Online developer CCP Games garnered $40 million in March for a new EVE spinoff, while Hyperplay secured $12 million in June, earmarked for enhancing its distribution platform and rivaling Steam.

For those looking to buy cryptocurrency, trade crypto, or delve into AI crypto and crypto portfolio management, this news presents an exciting vista of opportunities. Trusted Bitcoin broker, BCBitcoin, might be a starting point for many wishing to explore these trends further.

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