Proof of Play Secures $33M in Seed Round

Web3 gaming firm, Proof of Play, announces a $33 million seed funding round led by a16z's Chris Dixon and Greenoaks for its blockchain-based game, Pirate Nation.

Mostafa Salem author picture}

Mostafa Salem

Head of Gaming Research

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n a significant move, Proof of Play, a pioneering Web3 gaming enterprise, revealed that it has amassed $33 million in seed funding. This infusion of capital is geared towards accelerating the development of its exclusive, blockchain-based pirate role-playing game, Pirate Nation. Within this game, participants are tasked with constructing ships, assembling a crew, and engaging in combative skirmishes to ascend the game's leaderboard.

Pirate Nation, since its beta unveiling in December 2022, has been consistent with its evolutionary updates. These enhancements encompass elements such as card-centric combat, the development of islands, and collaborative boss raids driven by the game's community. While Pirate Nation's foundation is entrenched in blockchain, Proof of Play's vision is to submerge players into the gaming environment without presenting them with initial technical hurdles. Currently, Pirate Nation is ushering in its inaugural batch of free-to-play gamers.

Key investors, Chris Dixon from Andreessen Horowitz (a16z) and Neil Mehta from Greenoaks, took the helm of this funding round. Other noteworthy participants included Naval Ravikant, Balaji Srinivasian, and the visionaries behind Twitch, Anchorage Digital, Mercury, Firebase, Zynga, and Alchemy.

A standout feature in Proof of Play's roadmap is the ambition to create a "Forever Game." This concept seeks a game that operates autonomously, without the need for external servers or direct intervention from its creators. For Amitt Mahajan, Proof of Play's co-founder and CEO, this aspiration is deeply personal. Drawing from his experience as the lead developer for Farmville, Mahajan highlighted the transient nature of digital experiences. With the closure of Farmville in 2020, he witnessed the loss of immense player investments and creativity. This catalyzed his mission to create games with permanence and longevity, anchored in blockchain.

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Addressing the issue of sustainability, Pirate Nation transitioned from Polygon's Ethereum sidechain to Arbitrum Nova. This migration was instigated by escalating gas fees, which had previously imposed daily costs ranging from $3,000 to $4,000 on the developers. The company's innovative solution to this, termed "gasless, signless, seamless," will significantly shape Proof of Play's overarching future strategy.

Reflecting its expansive vision, Proof of Play envisions a platform that's open-source, enabling players to infuse their creativity into in-game assets. These user-generated constructs can then be harnessed by either Proof of Play or other developers to design and expand self-sufficient digital worlds. To foster this, the company is on track to make its technological framework publicly available, empowering developers to craft blockchain-based games and applications.

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Commending the enterprise's vision and trajectory, Chris Dixon, founder and managing partner at a16z crypto, expressed his enthusiasm for the potential of on-chain gaming that Proof of Play embodies.

Further cementing its growth trajectory, Proof of Play has enlisted Emmett Shear, co-founder and previous CEO of Twitch, to its board. With Shear's vast experience in steering startups and his profound understanding of gaming content, he is set to be a pivotal asset for Proof of Play's journey.


updated:

September 28th 2023

posted:

September 24th 2023

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