Pixelmon, once notorious for a disastrous NFT launch, has secured an $8 million seed raise, signaling a dramatic turnaround from its early struggles. Backed by influential names in the crypto world, including Animoca Brands and Delphi Digital, Pixelmon’s recent funding round includes support from Amber Group, Bing Ventures, Foresight Ventures, Sfermion, Spartan Group, and more. This achievement follows a change in ownership and an extensive rebranding effort.
The list of investors contributing to Pixelmon’s seed raise is impressive, featuring industry leaders like Immutable co-founder Robbie Ferguson, Yield Guild Games co-founder Gabby Dizon, FaZe Clan co-founder and CEO Richard “Banks” Bengtson, and pseudonymous Endless Clouds founder Loopify. This backing indicates a strong show of support from both established companies and key figures in the crypto community.
Strategic Vision and Overhaul
After facing criticism for clunky artwork, Pixelmon underwent significant changes in its approach. Following its acquisition by crypto VC studio LiquidX in 2022, the game’s art was revamped, and the team shifted its focus to building games around the Pixelmon crypto IP. The goal is to reframe the brand’s perception while embracing its initial notoriety in the NFT space.
Product Launches and Diverse Offerings
Pixelmon has already launched Kevin the Adventurer, a “hypercasual” game that garnered 36,000 active players on Base, Coinbase’s Ethereum scaling network. Pixelmon’s diverse offerings include PixelPals, a pet care and trading card game, set to release this quarter. The Pixelmon Arena action game is due for a rebuilt version later this year, and an open-world role-playing adventure called Hunting Grounds is planned for early 2025.
Decentralized Ambitions with MON Token
Pixelmon aims to decentralize its operations through the Mon Protocol and the upcoming MON token. The Ethereum ERC-20 token will serve as the backbone of an “IP protocol,” rewarding NFT holders who contribute to the brand’s growth. The Mon Protocol enables decentralized governance of the Pixelmon IP, allowing NFT holders to actively participate in decisions related to their held species. The MON token, slated for launch in 2024, will power Pixelmon games.
The Road Ahead
Pixelmon’s strategic approach involves quarterly releases of hypercasual games, experimenting with Web3-centric player interactions and innovative game mechanics. The team plans to explore different blockchain networks and pioneer blockchain-based anti-cheat measures in gaming.
Pixelmon’s evolution from an NFT punchline to a well-funded, rebranded entity highlights the resilience and adaptability within the crypto space. With strategic partnerships, a diverse game portfolio, and decentralized aspirations through the Mon Protocol, Pixelmon aims to redefine its narrative and become a significant player in the crypto gaming ecosystem.
