Pixelmon, an ambitious startup building a decentralized gaming universe anchored by its collectible creatures IP, has raised $8 million in seed funding as it gears up for major product launches.
The round saw backing from blockchain gaming pioneer Animoca Brands and crypto native fund Delphi Ventures.
TLDR
- Pixelmon raises $8M seed round led by Animoca Brands and Delphi Ventures
- Funding to support development of Pixelmon’s decentralized gaming IP and ecosystem
- Launch of first two mini games sees strong traction; major RPG title set for 2024
- Pixelmon’s model gives NFT holders fractional IP rights and revenue share
- With 200K followers and 25K holders, Pixelmon rebounds after turbulent beginnings
The capital injection caps a remarkable turnaround for Pixelmon. Its initial NFT mint last February faced backlash over pricing and art. But following an acquisition by Singapore’s LiquidX, the project has rebounded with revamped art, an expanded team, and a differentiated roadmap.
Central to Pixelmon’s model is empowering NFT holders with fractional IP rights and revenue share. Its ‘Mon Protocol’ aims to decentralize often tightly controlled gaming IP, an innovative structure that swayed investors like Animoca’s Yat Siu.
While ambitious long-term plans are in motion, Pixelmon has also rapidly shipped mini games for community engagement. Titles like side-scroller Kevin the Adventurer saw tens of thousands of players in its debut month. These releases set the stage for a major RPG title currently targeting 2024.
From ~Kevin~ and ridicule to… a proper gaming ecosystem, fundraise, and token launch?@Pixelmon is planning for a big year ahead, announcing a $8 million raise ahead of the MON rollout.
Thanks to @GiulioXdotEth for weighing in—read via @ggDecrypt: https://t.co/MtsVW1ZQZi
— Andrew Hayward (@ahaywa) February 2, 2024
That project and others will leverage the lore of Pixelmon’s vast Nova Thera universe. With evolutions for Genesis NFT holders granting increased benefits, the enduring value proposition has retained earlier buyers. Despite initial criticism, Pixelmon now boasts 200,000 cross-platform followers and over 25,000 wallets engaged on-chain.
The project’s resilience and traction convinced Delphi Ventures the team can make decentralized IP viable. As partner Piers Kicks noted, “We believe [Pixelmon] is strongly positioned to show the world what IP forged in the fiery flames of crypto is capable of.”
Indeed, Pixelmon represents a fascinating experiment in community-owned and directed interactive entertainment. If successful, it could fundamentally alter power dynamics between players, creators and IP owners.
And with the support and expertise of Animoca Brands guiding development, Pixelmon may soon showcase blockchain’s potential to transform gaming. As blockchain applications search for product-market fit, Pixelmon’s creative approach looks to be finding resonance.
