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Seattle’s Neon Machine has secured $20 million in Series A funding, led by Polychain Capital, to advance development of its blockchain-integrated shooter game, “Shrapnel.”
Seattle-based game studio Neon Machine Announced an influx of $20 million in Series A funding led by Polychain Capital with participation from Griffin Gaming Partners, Brevan Howard Digital, Franklin Templeton, IOSG Ventures and Tess Ventures.
The funding is intended for the continued development of “Shrapnel”, a first-person shooter, at what the company identifies as a “critical moment” as they prepare to launch an early access version in December, with a full release scheduled for 2024.
Originally part of HBO Interactive, Neon Machine has established itself independently, amassing $37.5 million in multi-round funding since its inception. The company has a staff of more than 70 employees, according to CEO Mark Long, and has diversified its portfolio, branching out into comics and launching a PFP nft Collection in the previous year.
“Shrapnel” will offer a mix of solo and team play, with a significant emphasis on user-generated content (UGC). The game’s innovative approach allows players to create in-game items using the studio’s technology, which can then be minted as NFTs. This feature, along with the integration of blockchain technology for asset ownership, represents a foray into relatively unexplored territories in gaming.
However, the game’s reliance on blockchain and NFTs raises questions about the game’s accessibility and the potential for a steep learning curve for players unfamiliar with these technologies. Additionally, the volatile nature of the cryptocurrency market could pose risks to the game’s economy, potentially alienating players and undermining the long-term stability of the game.
Despite these concerns, the recent funding round indicates investor confidence in Neon Machine’s vision. The inclusion of notable venture partners suggests a belief in the potential of combining blockchain technology with gaming.
It remains to be seen how the team will navigate the complexities of this integration and whether it will resonate with the gaming community at large.
