coindesk.com
Play-to-earn game Nyan Heroes raised $7.5 million in a strategic round to fund game development, according to an emailed press release on Monday.
The Singapore-based company will use the money to hire more people and for community outreach.
The investment values the company at $100 million.
Investors included venture capital firms Kosmos Ventures, Sino Global Capital, Shima Capital and Petrock Capital.
Play-to-earn platforms have been pulling in funds. LootRush, a platform that helps new users access play-to-earn games, raised $12 million in a seed funding round last week and Rainmaker nabbed $6.5 million in a seed round in December.
“Sustainable P2E (play-to-earn) game is a buzzword of 2022,” Vladimir Velmeshev, a partner at Kosmos Ventures, said in the statement.
Nyan Heroes is built on the Solana blockchain and features cute cats in deadly robots.
The company raised $2.5 million in a seed round led by Three Arrows Capital, Mechanism Capital, and Defiance Capital in late 2021.
The game is expected to go live toward the end of 2022.