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Singapore-based play-to-earn game Nyan Heroes has recently raised $7.5 million in a strategic funding round, leading to a company valuation of $100 million.
According to a press release on Monday, the funds will be used for further game development by hiring additional people. The company will also invest in community outreach activities
Notable investors include venture capital firms Kosmos Ventures, Sino Global Capital, Shima Capital and Petrock Capital.
Vladimir Velmeshev, partner at Kosmos Ventures, said:
“Sustainable P2E (play-to-earn) game is a buzzword of 2022.”
Nyan Heroes is a AAA battle royale shooter featuring cute cats in deadly robots. The game built on the Solana blockchain is expected to go live within this year.
Tore Blystad, Creative Director of Nyan Heroes, said:
“We aren’t just a group of blockchain enthusiasts trying to build a game. We are a team of industry experts from traditional AAA game development that are bringing our talent and quality to the Web3 gaming space. In order to build a game-changing product for Web3 that has the quality and longevity expected from a AAA live action game, we must hire the right people at the right time. I am confident that this new round of funding and the strategic partners that come with it will enable us to hire those right people, supercharging our production.”
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In late 2021, the gaming company raised $2.5 million in a seed round led by Three Arrows Capital, Mechanism Capital, and Defiance Capital.