Neon Machine Raises $20 Million in Series A for Web3 Game ‘Shrapnel’

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Neon Machine Raises $20 Million in Series A for Web3 Game ‘Shrapnel’

Seattle-based startup Neon Machine has successfully secured $20 million in a Series A funding round for its Web3 game, Shrapnel. The combat shooter game is among the first in the gaming industry to leverage blockchain technology, allowing users to create and monetize in-game assets. Neon Machine, which spun off from HBO two years ago, aims to push the boundaries of blockchain gaming with its innovative approach.

Shrapnel is set to release an early access version for paid users in December, with plans for a free-to-play version in the coming year, as reported by VentureBeat. The game represents a fusion of traditional gaming and blockchain, offering players the ability to own and trade unique in-game assets securely through blockchain technology.

Led by CEO Mark Long, a former manager at Microsoft and director at HBO, Neon Machine has attracted significant attention for its pioneering work in the Web3 gaming space. The latest Series A funding round, totaling $20 million, includes $10.5 million from previously announced investments.

Key investors in the funding round include Polychain Capital, Griffin Gaming Partners, Forte, Tess Ventures, IOSG Ventures, Franklin Templeton, and Brevan Howard Digital. The notable support from a range of investors underscores the growing interest and confidence in the potential of blockchain-based gaming solutions.

Neon Machine’s vision for Shrapnel aligns with the broader trend in the gaming industry, where blockchain technology is increasingly being explored to enhance player experiences, introduce new monetization models, and provide true ownership of in-game assets. The successful funding round positions Neon Machine to further develop and expand its Web3 gaming platform, contributing to the evolution of blockchain integration in the gaming sector.

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