Investment Overview in Blockchain Games
Welcome to our comprehensive investment summary focusing on blockchain gaming ventures. This list is regularly updated to capture all investments made in companies within this burgeoning sector. If you notice any omissions, please feel free to reach out via email.
Total Investment Figures by Year
Total investments recorded in 2025 (to date) have reached $303 million, with projections suggesting a total of $400 million for the year. The investment landscape has evolved significantly over the past few years, as illustrated by the following figures:
– 2024: $1 billion
– 2023: $1.7 billion
– 2022: $5.3 billion
– 2021: $4 billion
– 2020: $88 million
Recent Funding Highlights
In October, KGeN, an Indian blockchain gaming rewards platform, announced it has successfully raised $13.5 million, bringing its total funding to $43.5 million. This strategic funding round was led by Jump Crypto, with contributions from earlier investors Accel and Prosus. Previously, KGeN secured a $10 million ecosystem round led by Aptos and Polygon in November 2024, valuing the company at $500 million. Earlier in February 2023, it completed a $20 million seed round at a $150 million valuation. The platform now claims to be the largest verified distribution protocol globally, boasting over 6.5 million monthly active wallets, largely due to a current rewards program linked to its upcoming KGEN token. The majority of its user base is located across the LATAM, MENA, and Southeast Asian regions.
In September, Animoca’s web3 chess-based project, Anichess, raised $700,000 through the Kaito token launchpad for its upcoming CHECK token, which is valued at a fully diluted market cap of $35 million. The project received pledges of over $3.4 million, indicating nearly five times the initial target. This token will serve as a key component of the Checkmate ecosystem, facilitating in-game purchases, rewards, and governance.
GLHF, the developer behind the Gigaverse, has successfully raised $2.3 million to enhance its on-chain game with new features and gameplay modes. This funding round was spearheaded by 1confirmation and included participation from notable investors such as Luca Netz (Pudgy Penguins) and Jeff Zirlin (Sky Mavis). To date, Gigaverse has generated over $4.5 million in revenue from more than 75,000 accounts, with item trading volume exceeding $9 million. The game operates on the Abstract blockchain and utilizes Proof of Play technology. Future plans include the launch of new NFT items on OpenSea, named Gigaverse Eggs, priced at 0.0069 ETH ($30), which will hatch into mounts for navigating the open world once it launches.
In August, Chinese web3 gaming developer Moonveil secured a $5 million strategic investment from Unicorn Verse. The company is engaged in developing several games, including TD AstrArk and the battle royale game Bushwhack, utilizing its Polygon-based layer 2 blockchain. Additionally, it has introduced its MORE token on the BNB blockchain.
South Korean marketplace and community project Overtake announced it raised $7 million in strategic funding, increasing its total funding to $27 million. The platform, initially focusing on the Immutable blockchain, has now integrated with Sui and received investments from both blockchains. Overtake also extends its support to Aptos and Starknet.
Neon Machine, a US-based developer, has reported raising $19.5 million across two funding rounds, with the latest led by Gala Games. The funding will support the launch of its PC shooter, Shrapnel, set for early 2026, with the global version running on GalaChain. Cumulatively, Neon Machine has surpassed $50 million in announced funding.
SuperGaming, an Indian mobile game developer, announced a $15 million Series B funding round, bringing its total funding to over $21 million and achieving a valuation of $100 million. The studio, known for its web2 titles like Indus Battle Royale, is also expanding into web3, collaborating with B3 for its L3 Superchain. The funding will facilitate expansion into new markets, particularly Latin America and the Middle East, while enhancing its game development engine and live operations technology.
In July, STAN, an Indian mobile gaming community app, raised $8.5 million from a diverse range of investors, including major gaming strategics like Square Enix and Bandai Namco. Existing investors General Catalyst and GFR also participated in this funding round, lifting the app’s total funding to $16 million. STAN claims over 25 million app downloads, particularly thriving in India’s Tier 2 and 3 cities. The investment will enable STAN to implement AI-driven personalizations and launch new tools for creators and partners.
Honig Studios, a German developer, has secured $1,049,575 through investments from Arbitrum Gaming Ventures and a non-refundable grant from the German government aimed at supporting game development. This funding will help continue the development of Honig’s trading card game, The Lost Glitches, currently available on Steam.
Delabs Games from South Korea has announced new investments totaling $17.2 million, following $7 million from its parent company, 4:33 Creative Lab, and $4.7 million from notable investors including Hashed and Polygon. The latest funding rounds, including one from TON Ventures, provided an additional $5.5 million, which will aid in the development of two new games and the deployment of its DELABS tokens.
Football Fun, a fantasy football game based on the Base Chain, raised $2 million, led by 6th Man Ventures, with participation from several other investors. The game recently launched a time-limited beta during the FIFA Club World Cup and is set to roll out its Pro experience in August.
Remix, previously known as Farcade, has concluded a $5 million seed funding round, led by US crypto VC Archetype. This funding will support its initiative to launch DIY game-making technology, which already supports multiple platforms, including Telegram and World App. Remix has attracted over 600,000 players and claims multiple games have surpassed one million plays.
Distinct Possibility Studios, a US startup, announced it has raised $30.5 million for its persistent open-world shooter, Reaper Actual. The funding, led by Bitkraft and Bevan Howard Digital, will allow for a PC version with optional web3 features. Co-founded by gaming industry veteran John Smedley, the game has been in development for two years.
Cold River Games has raised $2 million for its upcoming old-school PC ARPG, Crystalfall. The funds will help launch the game via Steam and the Epic Games Store by the end of 2025. This funding round attracted crypto-focused investors.
In June, Spekter Games raised $5 million in a pre-seed round, led by a16z’s speedrun, including participation from a mix of traditional early-stage VCs. The studio’s first game, a Telegram-based roguelite called Spekter Agency, aims to combine simple gameplay with deeper metas, alongside web3 incentivized rewards.
Uptopia raised $4 million in a pre-seed round, led by Pantera. The company is focused on disrupting game distribution through a token launchpad. Additionally, Playful Studios has secured another $6.5 million from existing investors, aiming for a total of $9 million to develop its titles, including the web2 game Wildcard and its web3 streaming platform, Thousands.
Oxalis Games has successfully completed a second NFT sale for its farming title, Moonfrost, yielding $275,000 from 1,833 mystery boxes. Each box offers in-game items to enhance player progression.
Orange Cap Games announced it raised $3.5 million, led by Yuga Labs and 1kx. This follows the sale of the Moonbirds NFT collection and funds will support their ongoing projects, including a TCG inspired by Pudgy Penguins.
Launcher Capital, branding itself as the future of AI gaming, has raised $4 million in a seed round to build a platform for creators to develop and play games.
Shards Protocol, a decentralized reputation layer, has announced a $2 million funding round, with participation from notable firms and individuals. The launch of its SDK aims to enhance user retention and monetization for game companies.
Revolving Games secured further funding from Pantera Capital, described as a follow-on investment following their previous $13.2 million seed round. To date, the company has raised over $25 million, which will support the scaling of its existing live games and the launch of its upcoming RPG.
Oncade, a stablecoin-enabled game distribution platform, has raised $4 million in seed funding to help developers increase revenue through modern payment solutions.
Voya Games received $5 million in new investments, bringing total funding to over $6 million. The funds will support the launch of Craft World and its Dyno Coin.
Kaia, a South Korean blockchain company, has secured undisclosed funding from various crypto investment firms to accelerate growth and drive mass adoption of web3.
MagicBlock, a real-time game engine, closed a $7.5 million seed round to expand its engineering team and developer ecosystem.
Ultra, a blockchain game distribution platform, announced it raised $12 million to enhance its operations and support strategic acquisitions.
Tarta Labs, based in Singapore, has raised $4.5 million to accelerate the development of its anime-style action RPG.
Planetarium Labs secured $3 million for its mobile-based RPG, Immortal Rising 2, from multiple investors.
PlaysOut, a web3 platform for mini-games, raised $7 million to bridge web2 and web3 gaming.
Asphodel Studios announced the closure of a $1.3 million seed round to develop its idle-MMORPG Kamigotchi.
M10, a web3 gaming studio, raised $3 million to create more player-friendly experiences in gaming.
Autoverse Studios announced a $1 million strategic funding round to support the launch of its drag racing game, Auto Legends.
Acid Labs raised $8 million to expand its portfolio of social gaming experiences.
The Game Company secured $10 million through a combination of equity and token sales.
Beamable, a game infrastructure provider, announced a $13.5 million funding round aimed at launching its decentralized physical network.
Mighty Bear Games raised $4 million for its Telegram-based rewards platform, Goat Gaming.
Pixion announced a strategic round for its mobile action-RPG, Fableborne, leading to a total funding of $12.4 million.
The ecosystem of investments in blockchain gaming continues to thrive, with numerous developers and platforms securing significant funding to innovate and expand their offerings. The growing interest from both traditional and crypto-focused investors highlights the potential for blockchain to transform the gaming landscape.
