Venture capitalists are betting millions on blockchain gaming, which is a clear sign of confidence in the sector’s future. Investment is heading in to build the future of game development, platform evolution, and growth on both Web3 and Web2 ecosystems. All of the recent funding rounds listed below illustrate the broad array of innovative projects drawing millions of dollars in investment.

Pixion Games announced that it had raised $5.5 million to complete and release its upcoming title, Fableborne. Polyient Ventures led an additional $500,000 investment in Exordium, the publishers of Infinite Fleet. IMVU, which had raised $35 million, pivoted, rebranding as Together Labs. SuperTree garnered $2.5 million in funding. Mythical Games raised $19 million in a Series A round led by Javelin Venture Partners. Dapper Labs raised $305 million in March 2021 and has a total stake of $607 million. These investments demonstrate the commitment and increasing excitement surrounding blockchain-enabled gaming experiences.

Sky Mavis raised $860,000 by a strategic sale of its AXS governance token. Animoca Brands committed $50 million through the NEOM Investment Fund. Dapper Labs secured $11.4 million in funding. In a move that shocked the market, NPC Labs announced $18 million in seed funding, bringing its total seed funding to $21 million. Just last week, Saga announced a $5 million seed extension round. Vermillion locked down $7 million in funding for its F2P social party game, Forgotten Playland. Yield Guild Gaming raised $4.6 million. Spectarium shared news of the $5 million seed round led by Bitkraft. Loot Labs attracted $1.5 million in pre-seed funding for its Boxed.gg loot box platform.

These funding rounds are just an example of the depth and breadth of innovation that’s happening in the blockchain gaming space. Financiers are supporting ambitious projects that utilize different creative genres and innovative technological angles. The development and adoption of blockchain-based games will continue to be accelerated by this infusion of capital.

Pixion Games’ $5.5 million investment will allow the company to go all-in on its creative vision for Fableborne. With immersive gameplay and an innovative mix of strategy and adventure, the game uses blockchain technology to give players true ownership of their gaming experience. The funding will be used for the completion of development, fund marketing efforts and prepare for launch.

Polyient Ventures' $500,000 investment in Exordium demonstrates confidence in Infinite Fleet's potential. The immersive multiplayer game mixes space exploration, combat and strategy—all set within a real-world economic system based on blockchain technology. The success will help fund ongoing development to further expand the game.

IMVU’s $35 million funding round, along with the company’s recent rebrand to Together Labs, indicates their pivot toward metaverse experiences. The company is working to use blockchain technology to better facilitate user engagement and asset ownership in its digital realm. Structural Capital and NetEase co-led the investment.

SuperTree’s $2.5 million funding round will help the company continue to advance its unique gaming platform. Characters & Concepts well-deserved reputation for producing uniquely sizzling and immersive as well as creative, engaging, interesting experiences for their players. The specifics of the funding will allow it to grow its development team and move faster on its product roadmap.

Mythical Games' $19 million funding round, led by Javelin Venture Partners, underscores the company's position as a leader in the blockchain gaming space. Development studio Mythical Games has gained a good deal of fame for implementing blockchain technology in brand-new ways to establish player-owned economies in their games. The new capital will be put to work accelerating development and expansion of its solution platform.

To be clear, Dapper Labs, the company that created CryptoKitties and NBA Top Shot, has gotten a lot of investment. Adding it all up the company’s follow-on round of $305 million in March 2021 has deepened the total funding of Swyft into $607 million. This influx of capital has imbued the NFT powerhouses Dapper Labs with the ability to diversify their product lines. Consequently, the company has established itself as one of the leaders of the blockchain industry.

Sky Mavis, the company behind Axie Infinity, raised $860,000 in a strategic sale of its AXS governance token. With this funding, Sky Mavis can continue strengthening the Axie Infinity ecosystem and provide Axies’ community more ownership through decentralized governance. The AXS token is the foundation of the game’s economic and governance model.

Saudi Arabia-based Animoca Brands, one of the biggest global investors in blockchain gaming, pledged $50 million through the NEOM Investment Fund. This investment will jumpstart the development of groundbreaking and impactful blockchain projects. It will power projects under NEOM, Saudi Arabia’s planned smart city megaproject. This new partnership between the two companies is set to accelerate innovation and growth in the blockchain gaming sector.

Dapper Labs recently raised $11.4 million in new funding, adding to its impressive war chest. The company is thrilled to leverage the new funding to continue building out its Flow blockchain. In addition, they seek to grow their ecosystem of decentralized applications. Today, Dapper Labs is still one of the most influential companies in the blockchain gaming ecosystem.

NPC Labs recently announced $18 million in seed funding, increasing its total to $21 million. This investment will accelerate its creation of an impressive suite of AI-powered tools that are designed to revolutionize game development. The company’s stated goal is to bring down both the cost and complexity of producing virtual worlds.

"Artificial intelligence is the future of gaming and virtual worlds, but the cost and complexity of development has long been a major roadblock to adoption," - Ramees, Play AI CEO

Saga recently closed a $5 million seed extension round, a vote of continued investor confidence in its platform. Saga offers developers the tools and infrastructure to build tailored blockchain environments, or “chainlets,” for their games. The funding will go towards the growth of its platform and ecosystem.

Vermillion raised $7 million in funding for its F2P social party game, Forgotten Playland. This investment will allow Vermillion to continue building out the game and growing its player base. Forgotten Playland wants to make an intriguing and enjoyable social experience for players.

Yield Guild Gaming (YGG) recently raised $4.6 million to pursue its mission of empowering players in the metaverse via blockchain-based gaming. YGG invests in and supports blockchain games, giving its members access to play-to-earn opportunities. With this funding YGG will be able to grow their community and reach more blockchain gamers, especially those in developing countries.

Spectarium was created with support from Techstars and announced a $5 million seed round in lead from Bitkraft, the world’s foremost Esports/Video Gaming venture capital firm. Spectarium is building a new kind of platform for building and experiencing interactive storytelling experiences, enabled through blockchain technology. The funding will be used to further develop its platform and produce new content.

Loot Labs announced today that it has closed on $1.5 million in pre-seed funding to develop its Boxed.gg loot box platform. Boxed.gg hopes to accomplish this by being the most transparent and secure marketplace available to buy, sell, and trade virtual items. The funds will be used to further develop and launch its new platform to the market.

These investments reflect the growing maturity of the blockchain gaming industry. Venture capitalists are now waking up to the potential blockchain could have in revolutionizing the gaming industry. With more games and platforms adopting blockchain, the industry is set for further growth and innovation.