Farmville Co-Creator’s Company, Proof of Play, Secures $33M for Web3 Games Development

Proof of Play, spearheaded by Farmville co-creator Amitt Mahajan, has successfully raised $33 million to develop Web3 games, as announced on September 21. Mahajan serves as the CEO of the company, with Twitch co-founder Emmett Shear contributing as a board member.

Investment Details and Participants

The investment round witnessed participation from notable figures and was co-led by Chris Dixon at Andreessen Horowitz (a16z) and Neil Mehta at Greenoaks. Other significant investors included Naval Ravikant, Balaji Srinivasan, and the founders of Twitch, along with Web3 firms like Anchorage Digital, Mercury, Firebase, Zynga, and Alchemy.

Innovative Approach to Web3 Gaming

Proof of Play aims to address and overcome the prevalent challenges players face while engaging with Web3 games. The company asserts that it holds a series of technological and product innovations capable of immersing players in enjoyable gameplay swiftly, eliminating the need for an initial understanding of blockchain.

One of the company’s notable creations, Pirate Nation, exemplifies a “Forever Game” that operates independently of external servers or creator interventions. Proof of Play has expressed its commitment to decentralization and plans to open-source its technology framework to further this decentralization.

Diverse and Experienced Team

The team at Proof of Play comprises individuals with extensive experience in the gaming and web sectors, hailing from renowned companies like Epic Games, Zynga, EA, Activision, and Google. This diverse team is set to leverage its collective expertise to drive innovation in the Web3 gaming space.

Trend of Significant Funding in Web3 Sector

2023 has observed a series of substantial funding rounds in the Web3 sector. CCP Games, the developer behind EVE Online, secured $40 million in March for a new spinoff EVE game. Similarly, Hyperplay raised $12 million in June to enhance its distribution platform and develop a competitor to Steam.

Conclusion

The substantial $33 million funding secured by Proof of Play marks a significant stride in the development of Web3 games. Led by industry veterans like Amitt Mahajan, the company is poised to leverage its innovative approaches and experienced team to create immersive and decentralized gaming experiences. The commitment to overcoming the barriers in Web3 gaming and the focus on decentralization reflect the evolving dynamics in the gaming industry, with Proof of Play at the forefront of this transformation. The ongoing trend of multimillion-dollar funding rounds in the Web3 sector underscores the growing interest and investment in this innovative domain.