Proof of Play, spearheaded by Farmville co-creator Amitt Mahajan, has successfully secured $33 million in seed funding. The funds are earmarked for the company’s open-source blockchain gaming projects, including its debut title Pirate Nation. Joining the board of the company is Emmett Shear, the co-founder and former CEO of Twitch.
- Proof of Play raises $33 million in seed funding.
- Funding co-led by Chris Dixon at Andreessen Horowitz and Neil Mehta at Greenoaks.
- Emmett Shear, co-founder and former CEO of Twitch, joins the board.
- Proof of Play is committed to creating “Forever Games” without need for creator intervention.
- Company plans to open-source its technology framework.
Details of the Funding
The funding round was co-led by Chris Dixon at Andreessen Horowitz (a16z) and Neil Mehta at Greenoaks. Investors Naval Ravikant, Balaji Srinivasian, and the founders of Twitch also participated. Additional participation came from Web3 firms like Anchorage Digital, Mercury, Firebase, Zynga, and Alchemy.
Focus on Pirate Nation
Pirate Nation, the debut title from Proof of Play, has been in beta since December 2022. The game offers an invite-only, on-chain pirate RPG where players build ships, recruit crew members, and engage in battles. The game has been receiving weekly updates that include new features like card-based combat, island building, free to play model, and community-led world boss raids.
Accessibility and the Blockchain
The game’s infrastructure is completely blockchain-based. However, the company aims to lower technical barriers for players. Pirate Nation is in the process of introducing its first free-to-play players to make the game more accessible.
Commitment to Permanence
Proof of Play aims to create what they term as “Forever Games,” which are designed to operate autonomously without external servers or creator intervention. Amitt Mahajan, the CEO of the company, emphasized the importance of creating multi-generational products that are owned by the communities that play them.
With its significant funding, Proof of Play plans to develop its technology framework and intends to make it open-source. The company believes that user-generated content can help craft and scale autonomous worlds. They have a set of technological and product innovations that will allow players to immerse quickly in gameplay without having to understand blockchain initially.
Expertise Added to the Board
Emmett Shear, who recently stepped down as the CEO of Twitch, has joined the board of Proof of Play. With 16 years of experience leading Twitch, including through its acquisition by Amazon in 2014, Shear brings invaluable expertise to the company.
Industry Norms and Competitors
Large funding rounds for Web3 companies have become increasingly common. For example, EVE Online developer CCP Games raised $40 million, and Hyperplay raised $12 million. Proof of Play’s team includes professionals from Epic Games, Zynga, EA, Activision, and Google.
In summary, Proof of Play’s $33 million funding round represents a noteworthy infusion of capital into the Web3 gaming sector. The commitment to creating “Forever Games” and making technology open-source could signify a seismic shift in how games are developed and maintained. The inclusion of industry veteran Emmett Shear on the board further positions the company as a formidable player in the evolving landscape of blockchain gaming.