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Seattle’s Neon Machine has secured $20 million in Series A funding, helmed by Polychain Capital, to advance development of its blockchain-integrated shooter game, “Shrapnel.”
Seattle-based game studio Neon Machine recently <a href="https://decrypt.co/203208/shrapnel-game-studio-neon-machine-raises-20-million-led-polychain" data-type="link" data-id="https://decrypt.co/203208/shrapnel-game-studio-neon-machine-raises-20-million-led-polychain" target="_blank" rel="noopener noreferrer nofollow">announced</a> a $20 million influx from 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 earmarked for the continued development of “<a href="https://www.shrapnel.com/" data-type="link" data-id="https://www.shrapnel.com/" target="_blank" rel="noopener noreferrer nofollow">Shrapnel</a>,” a first-person shooter game, at what the company identifies as a “critical time,” as they gear up to release an early-access version in December, with a full launch slated for 2024.
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 Can you survive? Can you extract? 💥Jump into Early Access with pre-launch content from your EXTRACTION PACK. 🛒 For sale now on:<a href="https://t.co/FhyttO0Gsn" target="_blank" rel="noopener noreferrer nofollow">https://t.co/FhyttO0Gsn</a> Limited availability. <a href="https://t.co/SWfneijjVC" target="_blank" rel="noopener noreferrer nofollow">https://t.co/SWfneijjVC</a> <a href="https://t.co/D1T22DxIPn" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/D1T22DxIPn</a>— SHRAPNEL 🔺 (@playSHRAPNEL) <a href="https://twitter.com/playSHRAPNEL/status/1716516212622913672?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 23, 2023</a>
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Originally part of HBO Interactive, Neon Machine has established itself independently, amassing $37.5 million in funding from various rounds since its inception. The company boasts a workforce of over 70 employees, according to CEO Mark Long, and has diversified its portfolio, venturing into comic books and launching a <a href="https://decrypt.co/videos/interviews/Z2OMMsC5/a-grand-experiment-shrapnel-studio-head-don-norbury-talks-game-economics" data-type="link" data-id="https://decrypt.co/videos/interviews/Z2OMMsC5/a-grand-experiment-shrapnel-studio-head-don-norbury-talks-game-economics" target="_blank" rel="noopener noreferrer nofollow">PFP NFT collection</a> in the previous year.
You might also like: <a href="https://crypto.news/dappradar-says-on-chain-blockchain-gaming-and-defi-activity-up-in-q1/" rel="noopener noreferrer nofollow"> DappRadar says on-chain blockchain gaming and DeFi activity up in Q1 </a>
“Shrapnel” is set to offer a blend of solo and team-based gameplay, 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 <a href="https://nft.news/?utm_source=crypto.news&amp;utm_medium=referral" data-type="link" data-id="https://nft.news/?utm_source=crypto.news&amp;utm_medium=referral" rel="noopener noreferrer nofollow">NFTs</a>. This feature, along with the integration of blockchain technology for asset ownership, represents a foray into relatively uncharted territories in gaming.
The game’s reliance on blockchain and NFTs does raise questions however about the game’s accessibility and the potential for a steep learning curve for players unfamiliar with these technologies. Furthermore, the volatile nature of the <a href="https://crypto.news/market-cap/" data-type="link" data-id="https://crypto.news/market-cap/" rel="noopener noreferrer nofollow">crypto market</a> could pose risks to the in-game economy, potentially alienating players and undermining the game’s long-term stability.
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 <a href="https://crypto.news/learn/what-can-blockchain-do/" data-type="link" data-id="https://crypto.news/learn/what-can-blockchain-do/" rel="noopener noreferrer nofollow">blockchain technology</a> with gaming.
It remains to be seen how the team will navigate the complexities of this integration and whether it will resonate with the broader gaming community.
Read more: <a href="https://crypto.news/sega-double-jump-tokyo-execs-blockchain-gaming/" rel="noopener noreferrer nofollow"> SEGA, Double Jump Tokyo execs see future in blockchain gaming </a>

Game studio Neon Machine secures $20m in funding round led by Polychain

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