Last July, White Star Capital announced its investment in Eyeball Games, leading a $1.5 million pre-seed equity round. The round saw participation and grants from web3 firms Polygon Ventures and Immutable, alongside venture capital funds Ocular and Great South Gate Ventures. 

In this article, we will discuss why the investment highlights a strategic move towards the future of web3 casual mobile gaming, with an emphasis on the shifting sentiments around the integration of blockchain technology. 

White Star Capital Leads $1.5 Million Pre-Seed Round

Web2 Gaming Industry

The gaming industry has grown significantly since the 1970s, now including nearly 3 billion gamers worldwide and generating annual revenues of $385 billion. The industry has continuously evolved, from physical media like Super Mario Kart to subscription models such as World of Warcraft, and more recently to free-to-play apps like Candy Crush, driving user engagement and monetization.

A major factor in this growth has been mobile gaming, which accounted for over 60% of the market, according to data from Konvoy's Q4 2022 report. Since the launch of the iPhone in 2007 and the App Store in 2008, developers have a new, low-cost way to acquire users and sell either games or in-app purchases.

The Web3 Paradigm Shift

We believe that blockchain technology is the next significant shift in the gaming industry, addressing key issues for both gamers and developers:

1. Non-interoperable In-game Assets: Gamers spend $1.6 billion weekly on mobile gaming but cannot transfer assets between different games or platforms.
2. Lack of Ownership: Despite averaging 7.6 hours of gameplay weekly, gamers do not own their progress, leading to an $11.5 billion grey market for trading games and virtual items unofficially.
3. Rising Customer Acquisition Costs: Developers face increasing costs due to crowded social media platforms and stricter data regulations, impacting conversion and retention rates.

Blockchain solutions can enable ownable, interoperable, and tradeable assets, enhancing emotional engagement and extending user acquisition funnels through token-based economies and NFTs.

Benefits of Web3 Gaming

Why Eyeball Games?

Despite the potential of blockchain gaming, widespread adoption has been slow due to a focus on financial elements over gameplay. Eyeball Games, founded by Jonathan Ivarsson along with Karsten and Thomas, the creators of web2 smash hit 8 Ball Pool, aims to address this issue.

Eyeball Games' first web3 title, Pool Masters, is built on Immutable zkEVM, offering a faster gaming experience with lower transaction fees. With over 12 million daily active users, an Annual Recurring Revenue (ARR) of $100 million, and more than a billion downloads, Eyeball Games is ready to make its mark on the pool game genre through enhanced gameplay and true digital ownership.

Pool Masters Gameplay

Pool Masters: A New Era in Gaming

Pool Masters, is a casual mobile game, that allows players to engage in 1v1 matches, tournaments, and mini-games while genuinely owning their progress through NFT cues. These cues, which can be earned, traded, and customized, enhance gameplay and offer exclusive features through partnerships.

The game's initial mint of 4,001 genesis NFTs, called Ballroids, sold out in just 30 minutes. For those who missed out, additional opportunities will be available through the Pool Masters expanded NFT series, with whitelist access provided on their official website.

Pool Masters Currency

Future Prospects

With this investment, White Star Capital and its partners are looking forward to Eyeball Games' potential to impact the gaming industry. As web3 technologies evolve, the integration of blockchain into casual gaming could introduce new ways of player engagement and game development. For more information and to join the whitelist, visit Eyeball Games.