Avalon raises $10 million to support global launch

Avalon, an independent game studio, has announced a successful $10 million funding round co-led by Bitkraft Ventures and Hashed. Coinbase Ventures, Spartan Capital, Foresight Ventures, LiquidX, and Momentum6 also participated. 

Founded in 2021, Avalon boasts a team of industry veterans with experience from renowned studios such as Microsoft, Sony, Capcom, Infinity Ward, and Ubisoft. This team brings with them a wealth of expertise in conceiving, developing, and sustaining AAA titles across various genres, including massively multiplayer online role-playing games (MMORPGs), adventure games, and competitive shooters for iconic franchises like EverQuest, Call of Duty, and Assassin’s Creed.

Avalon aims to revolutionize the MMORPG genre by empowering players to create, share, play, and take ownership of their gaming experiences. The game features a dynamic world that evolves in real-time, thanks to partnerships with artificial intelligence pioneers Didimo and Inworld AI. Through Avalon Core, the main gameplay mode developed by the studio, players can embark on adventures while also exploring separate user-generated worlds and experiences, with the ability to carry their heroes, items, and progression across different realms.

The investment is intended to support the development of their debut title, Avalon, a next-generation massively multiplayer online game (MMORPG) designed to appeal to both Web2 and Web3 gamers.

Sean Pinnock, Founder and CEO of Avalon, said:

“The Avalon universe prioritizes delivering an immersive gameplay experience by combining cutting-edge tech like Unreal Engine 5 with AI-assisted user-generated content systems. Our focus on a no-code solution enables players to create game logic effortlessly. Plus, our upcoming NFT collection will introduce AI-powered avatar NFTs, adding another layer of innovation.”

Carlos Pereira, Partner at BITKRAFT Ventures commented:

“Avalon enables players to build nearly limitless, dense worlds that are high in visual fidelity without having to understand performance constraints, which is the next evolution of UGC. These individual UGC-centric worlds are, in turn, united through a central, interoperable gameplay experience. We believe that through vibrant, complex, and yet easy-to-build UGC experiences AVALON can make a significant contribution to the rise of the Synthetic Reality, and with it enable experiences with deep economies and high crypto-genre fit.”

Hashed General Partner Baek Kim praised Avalon’s clear vision for a cohesive online experience, noting the title’s impressive gameplay, graphical fidelity, and creative use of technology and economy.

With this latest funding round, Avalon is poised to write the next chapter in the evolution of massively multiplayer online games, promising a limitless and immersive gaming experience for players worldwide.

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