Planet Mojo Announces 5 Million Dollar Investment

MetaversePlanet December 24, 2021Last Updated: August 14, 2024

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The independent game studio Mystic Moose recently announced a significant investment boost of $5 million. This investment underscores the growing popularity of the Metaverse, increasingly seen as the future of gaming and technology.

Mystic Moose, among the start-ups delving into the Metaverse, has secured this substantial new investment. The funding round was led by Animoca Brands and saw contributions from Courtside Ventures, Republic Crypto, Polygon Studios, and Sky Vision Capital.

Established in 2021 by Mike Levine, Mystic Moose initially focused on creating internet browser-based games. The recent influx of funds will be directed towards the development of a game-centric Metaverse named Planet Mojo.

With a history of successful game development, Mystic Moose has also been integrating gaming with NFTs. Their online chess game, where chess sets and characters can be bought and sold as NFTs, is one such example.

In this chess game, NFTs known as “Mojos” are set to evolve into a Metaverse, thanks to the new funding. Planet Mojo’s website reveals plans to include augmented reality features in the game. However, the release date for the Planet Mojo Metaverse remains undisclosed.

The year 2021 saw a boom in NFT-based games and the Metaverse, with the third quarter alone generating $2.32 billion in revenue from NFT games. NFTs are increasingly being recognized as viable investment options.

Blockchain games, propelled by the NFT wave, are drawing significant investor interest. Companies developing these games are poised to secure notable funding in 2022.

In a related development, the esteemed gaming company Voodoo is set to invest $200 million in blockchain-supported mobile games in 2022. We will keep you updated on further investments in blockchain-based gaming companies.