March 27, 2024
Proof of Play, led by Farmville co-creator Amitt Mahajan, celebrates a $33 million funding
AI

Proof of Play, Led by Farmville Co-Creator, Raises $33 Million for Web3 Gaming

Proof of Play, a company spearheaded by Amitt Mahajan, one of the co-creators of Farmville, has successfully secured $33 million in funding to pioneer the development of Web3 games. This significant announcement was made on September 21. At the helm of Proof of Play stands Amitt Mahajan, serving as the CEO, while Twitch co-founder Emmett Shear holds a position on the board.

The funding initiative received co-leadership from Chris Dixon of Andreessen Horowitz (a16z) and Neil Mehta of Greenoaks. Additionally, notable investors such as Naval Ravikant, Balaji Srinivasan, and the founders of the streaming giant Twitch joined the funding endeavor. Web3-focused firms like Anchorage Digital, Mercury, Firebase, Zynga, and Alchemy also contributed to the financial backing.

In December 2022, Proof of Play introduced a closed beta of its inaugural game, Pirate Nation. In its official statement, the company asserted its capability to overcome the common obstacles that players encounter when venturing into the world of Web3 gaming. They claimed to possess a collection of technological and product innovations that would swiftly immerse players in enjoyable gameplay without necessitating prior knowledge of blockchain technology.

Furthermore, Proof of Play expressed a steadfast commitment to decentralization. Pirate Nation is referred to as a Forever Game that operates independently without relying on external servers or creator intervention. The company additionally expressed its intent to eventually release its technology framework as open-source, further advancing decentralization.

The dynamic team at Proof of Play comprises individuals with diverse backgrounds from prominent gaming and web companies, including Epic Games, Zynga, EA, Activision, and Google.

In 2023, multi-million-dollar funding rounds will become commonplace in the realm of Web3 companies. CCP Games, the developer of EVE Online, secured $40 million in March to embark on the development of a new spinoff EVE game. Meanwhile, Hyperplay secured $12 million in June to bolster the evolution of its distribution platform, positioning itself as a competitor to Steam.

Image by freepik

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