Indie game studio Avalon has raised $10 million in a funding round led by BITKRAFT Ventures and venture firm Hashedto create the studio's first game titled Avalon.

According to VentureBeat, the “Avalon ecosystem" is set to be a multiplayer experience that'll allow players to traverse various worlds with their assets and progress intact. Catering to both traditional and modern gamers, AVALON will feature a dynamic AI-powered world that evolves in real-time.

Boasting a team of industry veterans from top studios like Microsoft, Sony, and Ubisoft who have worked on franchises such as Call of Duty and Assassin’s Creed, Avalon was founded in 2021 and is now focused on creating an MMORPG experience that'll appeal to both web2 and web3 gamers.

Empowering players to create and play

Avalon founder and CEO Sean Pinnock says the Avalon universe will combine “Unreal Engine 5 with AI-assisted user-generated content systems," adding that the studio's “focus on a no-code solution enables players to create game logic effortlessly."

BITKRAFT Ventures' Carlos Pereira also comments, “These individual UGC-centric worlds are, in turn, united through a central, interoperable gameplay experience." And that “Avalon can make a significant contribution to the rise of the Synthetic Reality."

In addition, the studio also has an upcoming NFT collection that'll bring AI-powered avatar NFTs to players, adding a new layer of innovation as it plans to reshape the MMORPG genre by empowering players.

The funding also received participation from Coinbase Ventures, Spartan Capital, Foresight Ventures, LiquidX, and Momentum6.