Proof of Play, a company led by Amitt Mahajan, one of the co-founders of Farmville, has secured $33 million in funding for the development of Web3 games, as announced on September 21. Amitt Mahajan serves as the CEO of Proof of Play, and the company's board includes Emmett Shear, co-founder of Twitch.
This funding round is co-led by Chris Dixon from Andreessen Horowitz (a16z) and Neil Mehta from Greenoaks. Notable investors include Naval Ravikant, Balaji Srinivasan, and the founders of the popular streaming platform, Twitch. Web3 firms such as Anchorage Digital, Mercury , Firebase, Zynga, and Alchemy are also part of the investment.
Proof of Play introduced a closed beta of its inaugural game, Pirate Nation, in December 2022. The company claims to have developed technology and product innovations that address common challenges faced by players when engaging with Web3 games. They emphasize their ability to swiftly immerse players in enjoyable gaming experiences without the need for a deep understanding of blockchain technology. Additionally, Proof of Play is committed to decentralization. Pirate Nation operates as a "forever game" without reliance on external servers or creator intervention. The company intends to open source its technical framework in the future to further enhance decentralization.
The team behind Proof of Play comprises individuals with backgrounds in major gaming and web companies, including Epic Games, Zynga, EA, Activision, and Google.
In 2023, multi-million-dollar funding rounds for Web3 companies have become increasingly common. For instance, CCP Games, the developer of EVE Online, secured $40 million in March to develop a new EVE game spin-off. In June, Hyperplay raised $12 million to advance its publishing platform and compete with Steam.
