Avalon Corp, a game development studio, has raised $13 million in a funding round led by Bitkraft Ventures. The company plans to use the funds to build its own interoperable digital universe, or metaverse, that will offer a wide range of experiences beyond gaming.
The metaverse refers to a future where game engines can connect with each other using blockchain technology, creating an interconnected GameFi ecosystem that allows users to freely trade digital assets without fees or other restrictions. Avalon aims to pioneer this platform, bringing something akin to the world of Cyberpunk 2077 to life in a massively multiplayer setting where players can socialize and interact using 3D avatars.
Despite not wanting to use the term "metaverse" due to it being overused and requiring many companies to come together to truly make it happen, CEO Sean Pinnock hopes to create a triple-A digital universe where users can freely transfer NFTs. Avalon's development team, composed of veterans who have worked on popular web2 titles such as God of War, Call of Duty, Assassin's Creed, and Elden Ring, will use their expertise to bring Avalon's slice of the metaverse to life.
With the funding secured, Avalon's NFT game platform product will be developed to provide users with a unique experience that goes beyond just gaming. The company's vision is to create a digital universe that is not limited to gaming, but rather a space where users can hang out and interact with each other in new and exciting ways.