Bitkraft and Hashed lead $10 million round for crypto gaming studio Avalon
Summary
Bitkraft Ventures and Hashed have co-led a $10 million funding round for crypto gaming studio Avalon, which plans to release a massively multiplayer online game.The companys first game, also called "Avalon," is being built by a team of people with experience working for major web2 gaming companies. To develop the title, Avalon has partnered with "artificial intelligence pioneers Didimo and Inworld AI," the company said in a statement.The Avalon universe prioritizes delivering an immersive gameplay experience by combining cutting-edge tech like Unreal Engine 5 with AI-assisted user-generated content systems," Avalon CEO and founder Sean Pinnock said in the statement. "Our focus on a no-code solution enables players to create game logic effortlessly. "Through vibrant, complex and yet easy-to-build [user-generated content] experiences Avalon can make a significant contribution to the rise of the Synthetic Reality, and with it enable experiences with deep economies," said Carlos Pereira, a partner at Bitkraft Ventures, according to the statement.Synthetic Reality refers to the generation and simulation of digital worlds and systems.A spokesperson said players will be invited to play "Avalon" in a closed, early-access version of the game, which will be available later this year.Other participants in the funding round included Coinbase Ventures, Spartan Capital, Foresight Ventures, LiquidX, and Momentum6, Avalon said.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry.