Pixelverse Raises $5.5 Million to Expand Web3 Gaming Ecosystem

Pixelverse, a developing entertainment studio and game ecosystem, has secured $5.5 million in a private funding round led by prominent Web3 venture capital firms. The funds are intended to support the growth of Pixelverse’s gaming platform, which has seen significant user engagement since its launch.

Pixelverse‘s recent funding round saw participation from leading investors such as Delphi Ventures, Merit Circle, and Mechanism Capital, among others. The platform has quickly garnered over 15 million users and more than 5 million daily active users within its first month.

The announcement shared with Bitcoin.com News says that the company aims to utilize the newly acquired capital to enhance its gaming ecosystem, which combines elements of gamefi and socialfi through its “tap-to-earn” model. This model rewards users for regular engagement with Web3 games and mini apps, a concept that has been well-received by its growing community.

“Never in my time at Binance did I see a company with such strong adoption metrics in such a short space of time,” Kori Leon, the COO of Pixelverse stated. “Pixelverse is truly a game changer for Web3 adoption and it’s incredible to see not only the growth in our userbase but also the deep connections and interactions formed within the community.”