Gacha Monsters has successfully concluded a $3 million seed funding round, prominently featuring Animoca Brands as the lead investor. The funding, with participation from Infinity Ventures Crypto, FBG, and Big Time Games, signifies a pivotal moment for the studio. The studio was co-founded by Jia Shen, a veteran game developer who has worked on multiple blockbuster gaming IPs including Pokémon Medallion, Battle Cats, and the international version of Disney Tsum Tsum. Gacha Monsters’ first IP Poglin, is scheduled to launch the alpha version in the first quarter of 2024. The team says they plan to use the fresh funds to accelerate the development of its immersive IP to be distributed across various formats, including video games, anime, comics, physical merchandise, and web3. 

In addition to the funding, Gacha Monsters hints at an upcoming collaboration with a prominent Japanese intellectual property (yet to be disclosed), adding further depth to its diverse offerings. Already aligned with industry leaders such as Opensea, SUI, and Open Loot, the studio has showcased a commitment to strategic technological partnerships, with seamless integration plans for Arbitrum. Jia Shen, Co-founder and CEO, stated: “As someone who has been involved in game development for years, I am thrilled by the possibilities of reaching audiences not only with games but also through videos, comics, and the web3 space. Poglin is just the beginning of an exciting journey, the first title in a pipeline of many exciting games.”

Animoca Brands is a well-known company advancing digital property rights for web3 gaming and the open metaverse, with more than 400 portfolio companies and a partner network with over 700 million addressable users. Only last week they announced a substantial second tranche of funding of $11 million US dollars for their web3 membership project Mocaverse. This follows an impressive first tranche investment of $20 million US dollars, bringing the total to over $30 million. Animoca Brands is clearly very committed to the role web3 will take in shaping the video game industry. 

Yat Siu, the Co-Founder and Executive Chairman of Animoca Brands commented on the recent investment in Gacha Monsters, stating: “I was impressed by the creativity and dynamism of the team at Gacha Monsters. I look forward to how Gacha Monsters will build on the lore and narratives of its debut title Poglin in a web3 context as well as across multiple media formats.” As Gacha Monsters embarks on this transformative journey, industry observers eagerly await the unveiling of Poglin and its potential impact on the future of interactive entertainment.