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Farcana Secures Investment from Animoca Brands for Web3 Gaming in MENA

UAE's Farcana receives strategic backing from Animoca Brands, propelling its web3 game development with Bitcoin integration. A significant move in the MENA gaming scene.

Eliza Crichton-Stuart author picture}

Eliza Crichton-Stuart

Head of Operations

Farcana x Animoca Brands.webp

In a noteworthy development for the Middle East and North Africa (MENA) gaming industry, Farcana, a prominent UAE-based gaming studio, has secured strategic investment from Animoca Brands. This collaboration marks a significant step forward for Farcana in its endeavor to establish itself as a leading gaming entity in the region and solidify its presence in the emerging web3 gaming sector.

Farcana x Animoca Brands.webp

Farcana, originating in the UAE, has been gaining attention for its innovative gaming approach. The studio's flagship project, a team arena third-person shooter developed with Unreal Engine 5, stands out for its distinctive features. Beyond conventional gameplay, Farcana introduces a unique concept with "Free Mint" Bitcoin ordinals, backed by permanent Bitcoin prize pools. Already attracting over 40,000 users, Farcana has become a focal point in the regional gaming community.

The strategic investment from Animoca Brands, a Hong Kong-based web3 industry leader, comes at a pivotal moment for Farcana. The capital injection is designated for enhancing Farcana's gaming experience and seamlessly integrating it into the Bitcoin ecosystem. This strategic move aligns with Farcana's roadmap for a token launch and the full game release scheduled for early next year.

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We have been working with Farcana over the past year and we’ve been impressed with the development and traction it’s received so far. Our strategic investment into Farcana is part of the vision of Animoca Brands to drive Web3 development in MENA; the region is rapidly modernizing and adopting emerging technologies, and we’re excited to support partners such as Farcana as they actively lead the sector and bring exciting products to market.

Yat Siu, Co-Founder and Executive Chairman of Animoca Brands.

The collaboration between Farcana and Animoca Brands, initiated in Q2 2023, has been characterized by active cooperation on tokenomics and go-to-market strategies. This partnership underscores Animoca Brands' commitment to fostering innovation and growth in the MENA region, following its recent strategic collaboration with Saudi Arabia's NEOM.

Animoca Brands NEOM

Farcana's trajectory also aligns with the forward-thinking initiatives of the UAE. Recently, Dubai's Crown Prince HH Sheikh Hamdan unveiled the "Dubai Program for Gaming 2033," focusing on talent, content, and technology to strengthen the digital economy. Farcana, with its cutting-edge approach and collaboration with prominent web3 partners like Animoca Brands, emerges as a key player in realizing this ambitious vision.

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We did amazing work with the Animoca Brands advisory team this year. With the redesign of our tokenomics, improvements within the in-game economy, documentation, and go-to-market strategy, we had tremendously productive team-to-team collaboration. Sometimes I would forget that we were working in different companies. This strategic investment from Animoca Brands is definitely a significant milestone for Farcana. During the bear market, we were fully focused on building and delivering one of the best games in web3, and we are incredibly excited to bring it to the market next year.

Ilman Shazhaev, Founder and CEO of Farcana.

The capital infusion from Animoca Brands is expected to expedite Farcana's development, providing the resources needed to navigate the evolving gaming landscape. As Farcana prepares for its token launch and full game release, the partnership with Animoca Brands signifies a substantial step forward for the studio and the broader web3 gaming community in the MENA region.


Investments

updated:

February 20th 2024

posted:

November 27th 2023

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