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Nyan Heroes Raises $7.5M to Develop Play-to-Earn Game
The investment brings the company's valuation to $100 million.
Updated May 11, 2023, 6:55 p.m. Published May 9, 2022, 10:00 p.m.
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.
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