Independent game studio, Mystic Moose, has announced receiving an investment of $5 million.The Metaverse, envisioned as the future of gaming and technology, is gaining popularity every day.
With this increasing interest, more start-ups are focusing on the Metaverse. Among them, Mystic Moose, just secured a significant new investment.
The studio has confirmed the $5 million funding round was spearheaded by Animoca Brands, with contributions from Courtside Ventures, Republic Crypto, Polygon Studios, and Sky Vision Capital.
Founded by Mike Levine in 2021, Mystic Moose aimed to create internet browser-based games. The newly acquired investment will be funneled into developing a game-focused Metaverse called Planet Mojo.
Mystic Moose, which has successfully developed and launched games in the past, has also been merging gaming with NFTs. They have an online chess game where chess sets and characters can be purchased and sold as NFTs.
In this online chess game, NFTs called “Mojos” will transform into a Metaverse with the new investment. As per Planet Mojo’s website, the game will also include augmented reality features. The release date for the Planet Mojo Metaverse is still under wraps.
2021 witnessed a surge in NFT-based games and the Metaverse, with the third quarter alone generating $2.32 billion in revenue from NFT games. With increasing popularity, NFTs are now considered viable investment tools.
Blockchain games, gaining significant attention due to the NFT boom, also continue to attract investor interest. Companies developing these games are expected to secure significant funding in 2022.
Notably, renowned gaming company Voodoo plans to invest $200 million in blockchain-supported mobile games in 2022. We will continue to bring you updates on blockchain-based game company investments.