The company wants to lead the blockchain gaming movement and will use the funding to create more interactive game experiences.
The round was led by BITKRAFT and backed by a portfolio of other investors, including Impossible Finance, Coin98, Yield Guild Games, and Ascensive Assets. Cyball shared in a release that it plans to use the fresh funding to further develop its flagship game and suite of Web3.0-based apps that go with it.
“The CyBall team impressed us with highly skilled and driven game developers, engineers, and crypto-experts who have created sophisticated gameplay experiences for play-to-earn users,” Malte Barth, founding partner at BITKRAFT Ventures, said in a statement. “The team is supporting the mainstream adoption of cryptocurrency by developing a play-to-earn game which, due to its football-inspired theme and familiar gameplay, easily attracts fans of a relatable, widely loved global sport. CyBall caters to a wide range of demographics, while also serving as the bridge between players and blockchain technology through the game’s CyBloc universe.”
The CyBall game will also include a player rewards model and a scholarship system entitled CyLoans. Players will have to pay upfront to join a game, but they can offset some costs with scholarships. Eventually, CyBall will allow players to sell their collectibles for profit.
The company has been hard at work to release its game. Here are some development updates from Cyball:
- CyBall’s Genesis NFTs sold out in minutes after it hosted a triple initial game offering event across BinanceNFT, CyBall.com, and GuildFi.
- The company will release its game in beta to close friends and partners for testing. This focus group will play with no P2E rewards and provide feedback ahead of the public launch.
- CyBall is working on improving its rewards-claiming process to enhance security and defense measures.
- The CyBall NFT Marketplace has been live for about a month and allows users to buy and sell NFT game assets.
If all goes well with its beta testing, CyBall will launch its game right after the new year rings in. Over the next few weeks, the company will reveal a new website and trailer video. Follow CyBall’s progress on Discord for the latest game updates.
“Since the early days of CyBall, we have been incredibly blessed to see the growth of the community from our fans, artists, new and experienced gamers, crypto enthusiasts, content creators, etc.,” CyBall’s leaders said in a blog post. “CyBall’s amazing community has been and will always be an essential piece of our explosive growth, with over 42,000 members in our Discord at the time of writing. We heard your applause, frustration, feedback and expectation loud and clear, and are always striving to deliver the best experience possible to our users.”