Vietnam-based blockchain gaming guild Ancient8 said today it raised US$4 million in a seed funding round co-led by VC funds Dragonfly Capital, Pantera Capital, and Hashed.
The round also saw participation from a string of investors, including Mechanism Capital, Coinbase Ventures, Alameda Research, 3Twelve Capital, Coin98 Ventures, Kyros Ventures, Raydium, Jump Capital, GuildFi, Impossible Finance, Animoca Brands, Mirana Ventures (Venture Partner of Bybit and BitDAO), Chromia, Sipher, Smrti Lab, Folius Ventures, PANONY, Shima Capital, C^2 Ventures, and SkyVision Capital.
Other angels joining the round are Trung Nguyen (co-founder Sky Mavis), Santiago R Santos, Nick Chong, and Loi Luu (Kyber Network).
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With this, Ancient8 intends to grow its scholar base and invest in blockchain and metaverse education to support community members to keep track of the latest advances in GameFi (a combination of games and finance).
Besides, it aims to build more GameFi tools to help newly launched games with go-to-market support and user acquisition and build more blockchain and software products to serve as the infrastructure layer for the metaverse.
The firm will continue to expand its game coverage, especially in the Solana blockchain ecosystem, and expand its user base rapidly throughout Southeast Asia.
“Partnering with our community of gaming enthusiasts and game developers, we are democratising social and financial access for the first native generation of Metaverse citizens,” said Howard, Co-founder of Ancient8.
Founded in July 2021, Ancient8 is building a Decentralised Autonomous Organization (DAO) that develops a community and software platform to enable everyone to play and build the metaverse while earning rewards simultaneously.
Employing blockchain technology, the startup provides users with a comprehensive set of products and services, including scholarships and education, community, software, and investment in GameFi.
It allows users to borrow non-fungible tokens (NFTs) to play popular games, earn rewards, and receive instruction from experienced gamers. Users may also invest in new games and have early access to NFT and game testing for superior user rewards.
Also read: Demystifying NFTs and DeFi
“Innovative play-to-earn games such as Axie Infinity have changed the status quo, empowering gamers to own a piece of the games that they play and share social and financial rewards by contributing to the community, all while having fun,” said Howard. “We are excited to build the infrastructure layer for the future of blockchain gaming and the Metaverse.”
So far, Ancient8 claims to have aided tens of thousands of blockchain gamers and enthusiasts.
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Image Credit: Ancient8
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