Multi-platform development studio Mighty Bear Games has announced a $10 million funding round to launch a new blockchain division and develop AAA Web3 games.

This round was led by Framework Ventures, with a long list of other investors including Mirana, Sfermion, Spartan, Dune Ventures, Sanctor Capital, Folius Ventures, Polygon, Play Future Fund, Everblue, Ancient8, Ready Player DAO, Razer, Avocado DAO, DWeb3, Great South Gate, mrblock and more.

The company has confirmed its first Web3 game, Mighty Action Heroes, will release later this year. It will be a third-person multiplayer battle royale game, and ahead of its launch, an NFT PFP collection will be released. The game will run on Polygon and Mighty Bear Games will receive support from Polygon Studios in funding, marketing, and more.

At Mighty Bear, we believe first and foremost in games being fun. Web3 is already here, but in many ways, its games are lagging behind – lacking the imaginative gameplay and polish the wider gaming community has come to expect.

We’re proud to be backed by such a stellar line-up of investors who have the conviction and foresight to be supporting teams in this ‘bear’ market. They truly are the ‘mighty’ ones.

Simon Davis, co-founder and CEO at Mighty Bear Games
Mighty Bear Games

Mighty Bear Games’ player-centric approach is precisely what we look for in quality Web3 projects, and we’re thrilled to welcome them into our burgeoning ecosystem. Their recent raise demonstrates the appetite for a game-first approach to Web3 gaming exemplified by Mighty Bear’s products, and we look forward to seeing Mighty Action Heroes come to fruition.

Urvit Goel, head of games BD at Polygon Studios

Ahead of the launch, Mighty Bear will release an NFT PFP collection and engage the community this summer, with each NFT offering “immense utility” within the game and beyond. Each PFP holder will gain early access to the game during the Early Access Preview and be able to give feedback and stay involved throughout development. PFP holders will also be able to collect in-game rewards and cosmetic items when the game releases in late 2022.

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