Pixion Games Raises $5.5 Million in Seed Funding for Flagship Web3 Game ‘Fableborne’

Pixion Games Raises $5.5 Million in Seed Funding for Flagship Web3 Game ‘Fableborne’

Pixion Games, a Web3 gaming studio, has successfully raised $5.5 million in seed funding to further develop their highly anticipated game, Fableborne.

The funding round witnessed participation from prominent investors, including the Blizzard Fund of the Avalanche Foundation, Shima Capital, ReadyPlayerDAO, and others.

The allocated funds will be primarily directed towards the expansion and enhancement of Fableborne, Pixion’s action-based role-playing game that enables players to engage with on-chain assets built on the Avalanche network. Kam Punia, the founder and CEO of Pixion Games, expressed his intent to bolster the game by advancing its technological infrastructure and augmenting the leadership team through new hires.

“Our focus lies in creating competitive multiplayer games and mobile-first platform experiences, with competitive tournaments and player-owned economies serving as the core components of the game,” explained Punia. “We aim to provide an immersive experience for players.”

Fableborne is currently inviting players to participate in playtests and aims to launch publicly within the next year.

Despite the slowdown in investments within the crypto space due to the bear market, investor confidence in Web3 gaming remains steadfast. In recent weeks, Argus, another Web3 gaming studio, raised $10 million in seed funding to develop its own native gaming software developer kit. Additionally, decentralized chess game Anichess secured $1.5 million in seed funding, led by gaming behemoth Animoca Brands.