Animoca Brands Corporation Ltd (ASX:AB1) has entered into a simple agreement for future equity (SAFE) with blockchain gaming studio Experimental Group Ltd to participate in Experimental’s seed round of funding.
Experimental has completed its seed round of funding by raising more than US$500,000 from serial entrepreneur and investor Sumit Gupta, who sold his gaming company for US$170 million, invested in Discord and founded Boom TV.
Other participants include Pato Jutard, who sold his gaming company to Disney, Julien Turri, who sold two companies and is the owner of one of the major performance marketing agencies in Brazil, and Argentina's government-backed venture capital firm YAVU.
CryptoWars is main product
CryptoWars, Experimentals’ main product, is a strategy simulation game built on the Ethereum blockchain, which launched in January 2019 and quickly became highly popular among thousands of blockchain gamers processing 450,000 transactions in a single week.
Animoca Brands co-founder and chairman Yat Siu said: “We are thrilled with our third investment in an Argentinian company – Experimental is a true pioneer in blockchain gaming with the first decentralised strategy game to run entirely on smart contracts.
“We believe in the capabilities of its highly competent management team and look forward to working together on many exciting projects.”
Players in CryptoWars create and customise a settlement, form alliances, build armies and wage war over the control of nearby realms and is the final strategy game to run entirely on smart contracts – meaning that all in-game items obtained by players verifiably belong to them in the form of fungible tokens and non-fungible tokens (NFT’s).
In addition to the investment, Animoca Brands and Experimental have agreed to market and promote each other to their respective platforms and networks, collaborate on the launch of CryptoWars in Asia and discuss opportunities for collaboration including distribution of Experimental’s products.
Experimental chief executive officer Matias Nisenson said: “We’re excited to join forces with Animoca Brands and other amazing investors to bring blockchain gaming into the mainstream.”