Blockchain Game Raises $6.5 Million in Funding

MetaversePlanet June 7, 2022

0 1 minute read

The Red Village, the pioneering “play-to-earn” game built on the blockchain, has attracted investment from the venture fund Paribu Ventures. Paribu Ventures focuses on startups in the Web3 sector, including cryptocurrencies, NFTs, the metaverse, and blockchain-based games.

In addition to Paribu Ventures, the Australian-based company recently announced a $6.5 million seed investment round, with participation from investors such as Animoca Brands, GameFi Ventures, SL2 Capital, Polygon Studios, Spark Capital, Pylon Labs, and Vendetta Capital.

Blockchain Game Raises $6.5 Million in Funding

The Red Village, featuring game modes like “Competitions” and “The Red Village: Darklands,” has currently released the Competitions mode to players. The game continues its development in collaboration with Blowfish Studios under Animoca Brands for the more advanced Darklands mode.

In the recent past, The Red Village conducted NFT sales on OpenSea for in-game items and characters, achieving ‘sold-out’ status twice. The total value of these sales exceeded 1000 ETH, and the secondary market trading volume surpassed 3000 ETH.

Brendan Robb, Co-Founder of The Red Village, emphasized that the investment would primarily be used for game development. Robb stated, “Successful games like The Red Village will drive widespread adoption of blockchain.

The crucial catalyst for this is traditional gamers engaging with high-quality, dynamically successful, and immersive games that build real communities. Our goal is to achieve this; we believe we can provide players with a successful and enjoyable experience rarely seen in today’s blockchain gaming world.”