Shrapnel Game Studio Neon Machine Raises $20 Million Led by Polychain

Shrapnel Game Studio raised $20 million in Series A funding led by Polychain Capital to support the development of their upcoming NFT-based shooter game Shrapnel.
Shrapnel is a free-to-play sci-fi extraction shooter where players can own in-game NFT assets on the Avalanche blockchain and create their own mintable NFT items.
The funding brings the total raised to $37.5 million as Shrapnel Game Studio prepares to launch an early access version of Shrapnel in December ahead of a full release in 2024.

Shrapnel Game Studio, the Seattle-based developer behind the upcoming first-person shooter Shrapnel, has raised $20 million in Series A funding. The funds will support the continued development of Shrapnel as the studio prepares to launch an early access version in December ahead of a full release in 2024.

🚨 NEWS: @playSHRAPNEL developer Neon Machine raised $20 million in Series A led by Polychain Capital.

Funding will accelerate Shrapnel's development as launch is expected in 2024.

The studio has now amassed $37.5 million across funding rounds. pic.twitter.com/p9bM6JF4W7
— BlockNews.com (@blocknewsdotcom) October 25, 2023

Details of Funding Round

Polychain Capital led the funding round, with additional participation from Griffin Gaming Partners, Brevan Howard Digital, Franklin Templeton, IOSG Ventures, and Tess Ventures. The studio plans to use the funds to polish Shrapnel in the critical lead-up to launch.

Shrapnel CEO Mark Long said the team has a “collective dream to break the mold of traditional game development” by designing a AAA-quality shooter where players truly own in-game assets.

Overview of Shrapnel Game

Shrapnel is a sci-fi extraction shooter where a substantial amount of in-game content will be offered as NFTs on Avalanche. The free-to-play game will feature both solo and team-based gameplay. There will be a major emphasis on user-generated content, with the ability for players to create their own mintable NFT items.

Backers expressed excitement about Shrapnel’s potential to redefine extraction gameplay and push the boundaries of player ownership through blockchain integration. This funding round brings the total raised to $37.5 million.

Conclusion

With the new capital injection, Shrapnel Game Studio will continue developing its highly-anticipated shooter Shrapnel. The studio aims to leverage NFT and blockchain technology to create a next-generation extraction game where players truly own and create content. The upcoming launch will be an important milestone for the game’s success.

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