81Ravens, a Web3 sport studio behind the free-to-play 3v3 enviornment shooter Paravox, mentioned it has raised $4.5 million in funding.
Digital Hearts Holdings and Gree Ventures led the funding for the Web3 sport firm. The funding will help the continued improvement and advertising of Paravox, which is able to launch on the Solana blockchain. The deal exhibits there may be nonetheless life behind Web3 video games concentrating on hardcore avid gamers.
81Ravens is a Singapore sport improvement firm based in 2020. As a workforce of skilled sport builders, publishers, and league organizers in Japan and Southeast Asia, 81Ravens is engaged on Paravox, which encompasses a mix of motion, talent mastery, and tactical precision.
Paravox is presently in world open alpha testing and has gained some traction, with over 100,000 downloads on the Epic Video games Retailer following its Personal Alpha launch in Japan and Southeast Asia. Presently, the title has over 100,000 registered accounts, which is respectable for a Web3 sport.
Along with the funding spherical, 81Ravens has chosen to deploy on the Solana blockchain. With quick, scalable infrastructure, low friction and intensely low transaction prices, Solana argues it’s good for video games because it permits real-time gameplay and easy on-chain integrations.
“81Ravens aims to revolutionize the esports ecosystem by creating a platform that fairly distributes incentives to all contributors, from viewers to competitors and third-party creators,” mentioned Shimpei Yoshimura, CEO of 81Ravens, in a press release. “Our goal is to expand the esports market to 10 trillion yen ($65 billion) by addressing the current imbalance between publishers and communities. While we may appear to be a game studio, our true identity as a platform is our unique insight, enabling us to connect all aspects of esports through tokens and accurately measure each title’s market size.”
This 12 months, Paravox hosted the Paravox World Speedy Event (PGRT), its first esports occasion, which featured a prize pool of 100 million yen ($652,000) and attracted over half one million viewers, with 23 esports groups collaborating.
“As an independent game developer and Esports venture, we believe 81Ravens can bring a breath of fresh air to the game industry with this very unique and exciting 3vs3 shooter Paravox and its blockchain business model. Digital Hearts supports 81Ravens’ challenges with all our might,” mentioned Digital Hearts Holding CEO Toshiya Tsukushi, in a press release.
Professional groups from Japan, Southeast Asia, Europe, and Latin America resembling Loud, Zeta Division and Blacklist Worldwide have partnered with Paravox. PCI, the second main esports event, is deliberate to happen in December, with Loud among the many individuals.
“Since meeting 81Ravens, I have eagerly anticipated their growth,” mentioned Gree Ventures CEO Shintaro Aikawa, in a press release. “Having known Shimpei since he was in high school, I am delighted to see this milestone achieved. 81Ravens possesses unique strengths, including strong reach to influencers, cost-effective and rapid game development, and an essential approach to GameFi. I am confident they will continue to make a significant impact on the global market. With their entry into the Solana ecosystem, I look forward to seeing them further integrate games and blockchain technology, delivering a next-generation entertainment experience.”
The sport is presently being enhanced and improved in preparation for its Steam launch, scheduled for the tip of 2024.
