Avalon Game Studio Secures $10M for MMO Venture

Avalon, a burgeoning crypto gaming studio, has successfully raised $10 million in a funding round co-led by Bitkraft Ventures and Hashed. This capital injection is set to bolster the development of their flagship project—a massively multiplayer online (MMO) game also named “Avalon”. The studio is harnessing the expertise of veterans from major web2 gaming companies to bring this ambitious project to life.

In a move to integrate cutting-edge technology, Avalon has partnered with artificial intelligence innovators Didimo and Inworld AI. These collaborations aim to revolutionize the gaming experience by integrating advanced AI tools into the game’s development. According to Avalon’s CEO and founder, Sean Pinnock, “The Avalon universe prioritizes delivering an immersive gameplay experience by combining cutting-edge tech like Unreal Engine 5 with AI-assisted user-generated content systems.”

Pinnock, who has a background at prominent tech companies like Electronic Arts and Microsoft, emphasized the game’s innovative approach to content creation. Avalon is developing a no-code system that allows players to effortlessly craft game logic, enhancing the accessibility and creative freedom within the game. Additionally, the upcoming NFT collection will feature AI-powered avatar NFTs, adding a unique aspect to player engagement and game personalization.

Carlos Pereira, a partner at Bitkraft Ventures, commented on the potential impact of Avalon’s approach, “Through vibrant, complex and yet easy-to-build [user-generated content] experiences Avalon can make a significant contribution to the rise of the Synthetic Reality, and with it enable experiences with deep economies.” Synthetic Reality encompasses the generation and simulation of digital worlds and systems, a concept Avalon is poised to explore and expand within their gaming universe.

The game is expected to enter a closed, early-access phase later this year, allowing select players a first look at this innovative MMO. This strategic early access is intended to refine gameplay elements and ensure a robust launch.

Support for Avalon’s venture extends beyond Bitkraft Ventures and Hashed, with notable contributions from Coinbase Ventures, Spartan Capital, Foresight Ventures, LiquidX, and Momentum6. This broad base of support underscores the confidence in Avalon’s potential to redefine MMO gaming through blockchain technology and AI.

Avalon is set to make significant strides in the gaming industry with its AI-enhanced, user-generated content and innovative no-code solutions. By leveraging advanced technologies and substantial financial backing, Avalon aims to create a deeply engaging and economically rich gaming experience, marking a new era in the integration of AI and blockchain in gaming.