Share this article
Avalanche-Backed Web3 Gaming Studio Pixion Games Closes $5.5M Seed Round
The funds will go towards building out Fableborne, the studio’s flagship Web3 game.
Updated Jun 27, 2023, 9:00 a.m. Published Jun 27, 2023, 9:00 a.m.
Web3 gaming studio Pixion Games has raised $5.5 million in seed funding to build out Fableborne, the developers’ flagship game.
The round saw participation from a handful of notable investors including the Avalanche Foundation’s Blizzard Fund, investment firm Shima Capital, gaming decentralized autonomous organization ReadyPlayerDAO and more.
STORY CONTINUES BELOW
Pixion plans to put the funds towards Fableborne, the studio’s action-based role-playing game that allows players to interact with on-chain assets built atop the Avalanche network. Kam Punia, founder and CEO of Pixion Games, told CoinDesk he's hoping to grow the game by building out its tech stack as well as hiring for roles across the leadership team.
“It's really building what we call these competitive multiplayer games, mobile-first platform experiences, but having competitive tournaments and player-owned economies are at the heart of the core game,” said Punia. “And so that's what we're really trying to build as an experience for players.”
Read more: It’s Game On for Web3: How Gaming Will Onboard a Billion People
The game is inviting players to participate in playtests and is aiming for a public launch within the next calendar year.
While the bear market has slowed investments across the crypto space, Web3 gaming has maintained investor confidence. Earlier this month, Web3 gaming studio Argus raised $10 million in seed funding to build out its own native gaming software developer kit. And last week, decentralized chess game Anichess raised $1.5 million in seed funding led by gaming behemoth Animoca Brands.
Di più per voi
Cosa sapere:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Taps Chainlink CCIP as Sole Bridge for $7B in Wrapped Tokens Across Chains
The integration enables users to move these assets across different networks and applications, leveraging Chainlink's secure oracle networks.
What to know:
- Coinbase has tapped Chainlink's Cross-Chain Interoperability Protocol (CCIP) for its wrapped assets, worth around $7 billion.
- CCIP will enable users to move assets across different networks and applications, leveraging Chainlink's secure oracle networks.
- The deal aims to improve cross-chain security and reduce risk, using CCIP's decentralized node-based design.
Top Stories
