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Metaverse VC Roundup: 35V, Paris Hilton Participate in Shibuya’s $6.9M Raise

Last Updated: January 11, 2024
Boardroom’s latest Metaverse VC Roundup also includes fundraising updates from Earn Alliance, Animoca Brands, Gankster, and more.

Now that we’re in the last month of the year, it’s safe to say Web3 gaming-focused companies are proving to be the most resilient in 2022.

Gaming startups have continued to reel in the most venture capital across companies progressing their work at the intersection of Web3. We still have a few weeks left, and Boardroom will soon be recapping some of the year’s biggest and most impactful venture capital deals.

For now, let’s jump into some recent Web3 VC deals.

The latest edition of Boardroom’s biweekly Metaverse VC Roundup highlights investments from gaming,  NFT, and blockchain startups building across Web3.

Shibuya: $6.9M for Web3 Video Platform

Web3 video platform company Shibuya closed a $6.9 million seed funding round led by Andreessen Horowitz and Variant with participation from Paris Hilton, Rich Kleiman, and Kevin Durant’s 35 Ventures.

The blockchain-based film platform is developed by prominent NFT artist Emily “pplpleasr” Yang. Shibuya launched in March to develop animated films, the first being an anime short film called White Rabbit.

Yang said in a Medium post that Shibuya’s fresh seed funding would be used to onboard new IPs and creators, expand the company’s engineering team, and hire a lead UI/UX designer, amongst other roles.

“Unlike traditional streaming platforms, Shibuya is built with decentralization as a priority and uses blockchain technology to securely distribute and monetize content,” Yang said in a statement. “We want to build a range of tools and resources to help creators produce high-quality content, and provide them with direct access to their audiences.”

Yang is co-directing White rabbit with visual artist Maciej Kuciara. Shibuya is gearing up to release Chapter 3 of the series on Jan. 10.

Earn Alliance: $4.75M for Web3 Gaming Community

Gaming community platform company Earn Alliance closed a $4.75 million seed funding round co-led by CoinFund and Fabric Ventures ahead of its platform launch on Dec. 15. Earn Alliance is on a mission to connect gamers in Web3 with new opportunities in the growing industry.

Blockchain Coinvestors, MAD World Ventures, and angel investors also participated in Ear Alliance’s funding round.

Gankster: $4.25M for Web3 Games and Competitions

Esports gaming platform Gankster raised $4.25 million to expand its gaming portfolio, host competitions, and support inline gaming communities. The funding round was led by Bessemer Venture Partners and Hetz Ventures, with participation from a group of angel investors.

“For the everyday gamer, finding a team and competitions is a challenge as the market is fragmented and traditionally relies on Discord and spreadsheets,” Co-Founder and CEO of Gankster Uriya Schwarz said in a statement. “Gankster offers a comprehensive and accessible environment for professional growth for every gamer in the world, from the pros to the casual players, by connecting all steps of the competitive gamer’s journey in one place.”

Gankster is working to bring more structure and accessibility to the esports industry. Following this recent raise, the company is also looking to hire top talent to join its team.

Animoca Brands in Action

Animoca Brands has been busy as of late. The blockchain gaming company and VC firm acquired a majority stake in LA-based PIXELYNX to bring more blockchain technology to the music industry. PIXELYNX is a music metaverse gaming platform founded by electronic musicians and DJs Deadmau5 and Richie Hawtin.

Here are some more VC-specific updates from Animoca’s world:

  • Animoca Brands recently announced a $2 billion fund called Animoca Capital to invest in middle and late-stage metaverse startups.
  • Animoca Brands and GameFi Ventures led a $2 million seed funding round for Wanderers, a Web3 project that has released three NFT collections since last August.
  • Social impact NFT startup Metagood raised $5 million in pre-seed funding from a portfolio of investors, including Animoca Brands, Sangha Capital, Mark Yusko, Freddie Andrewes, and more.
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More Investments

  • GoPlus Security, a Web3 security services provider, closed a private funding round led by Binance Labs.
  • Roboto Games closed a $15 million fundraising round to develop a new game that supports user-generated content and offers NFTs.
  • HitBox Games raised $1.6 million to build its Web3 role-playing game Swords of Blood.
  • New blockchain gaming publisher Fenix Games raised $150 million from Phoenix Group and Cypher Capital to fund Web3 games.

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Michelai Graham

Michelai Graham is Boardroom's resident tech and crypto reporter. Before joining 35V, she was a freelance reporter with bylines in AfroTech, HubSpot, The Plug, and Lifewire, to name a few. At Boardroom, Michelai covers Web3, NFTs, crypto, tech, and gaming. Off the clock, you can find her producing her crime podcast, The Point of No Return.