Multi-platform development studio Mighty Bear Games has announced a $10 million funding round to launch a new blockchain division and develop AAA Web3 games.
This round was led by Framework Ventures, with a long list of other investors including Mirana, Sfermion, Spartan, Dune Ventures, Sanctor Capital, Folius Ventures, Polygon, Play Future Fund, Everblue, Ancient8, Ready Player DAO, Razer, Avocado DAO, DWeb3, Great South Gate, mrblock and more.
The team at Mighty Bear Games consists of veterans of the industry, coming from King, Ubisoft, Lucasarts, Disney and Gameloft. The company has confirmed its first Web3 game, Mighty Action Heroes, will release later this year. It will be a third-person multiplayer battle royale game, and ahead of its launch, an NFT PFP collection will be released.
The game will run on Polygon and Mighty Bear Games will receive support from Polygon Studios in funding, marketing, and more.
"At Mighty Bear, we believe first and foremost in games being fun. Web3 is already here, but in many ways, its games are lagging behind – lacking the imaginative gameplay and polish the wider gaming community has come to expect," said Mighty Bear Games co-founder and CEO Simon Davis.
"We're proud to be backed by such a stellar line-up of investors who have the conviction and foresight to be supporting teams in this ‘bear’ market. They truly are the ‘mighty’ ones."
Previous titles developed by Mighty Bear Games include multi-platform games Butter Royale and Disney Melee Mania.
"With the entire crypto gaming industry still innovating and defining the most effective game mechanics, we think the Mighty Bear team is one of the best positioned to launch genre-defining titles in this new space," commented Framework Ventures operating partner Daniel Mason.
Polygon Studios head of games BD Urvit Goel added: "Mighty Bear Games' player-centric approach is precisely what we look for in quality Web3 projects, and we're thrilled to welcome them into our burgeoning ecosystem. Their recent raise demonstrates the appetite for a game-first approach to Web3 gaming exemplified by Mighty Bear’s products, and we look forward to seeing Mighty Action Heroes come to fruition."
Joyride Games' Omar Siddiqui recently spoke with PocketGamer.biz about Solitaire Blitz, the fastest-growing Web3 mobile game.