Game Studio AVALON Raises $10M, Bringing Total Funding to $23M
AVALON, a game studio, has announced a $10 million funding round led by BITKRAFT Ventures and HASHED, with participation from Coinbase Ventures, Spartan Capital, Foresight Ventures, LiquidX, and Momentum6. This investment will be utilized to develop their flagship MMORPG game, AVALON, which promises interactive content and world development across "designed to appeal to both web2 and web3 players."
Founded by Jeffrey Butler, a key figure from EverQuest, along with industry veterans Sean Pinnock and Zack Karlsson, AVALON brings together a team with extensive experience in notable games such as Call of Duty, Diablo, God of War, Assassin's Creed, and Elden Ring.
Previously, AVALON announced a $13 million funding round in 2023.
AAA Gaming IPs
Established in 2021, the studio includes award-winning leaders from top studios including Microsoft, Sony, Capcom, Infinity Ward, and Ubisoft. The team has a proven track record in shaping, developing, launching, and maintaining AAA games across multiple genres, including multiplayer online role-playing games, adventure games, and competitive shooter games for iconic IPs like EverQuest, Call of Duty, and Assassin's Creed.
"The AVALON universe prioritizes delivering engaging gameplay experiences by combining advanced technologies like Unreal Engine 5 with user-supported AI content systems. We focus on no-code solutions to empower players to easily create game logic. Additionally, our upcoming NFT collection will introduce AI-supported avatar NFTs, adding another layer of innovation," said Sean Pinnock, CEO of AVALON.
More About AVALON
AVALON is a multiplayer online game designed from the ground up to empower players to create, share, play, and own their experiences. Commenting on the recent funding round, Carlos Pereira, Partner at BITKRAFT Ventures, stated:
"AVALON enables players to build densely populated, nearly infinite, highly realistic worlds without performance constraints, marking the next evolution of UGC. These individually created UGC worlds are then consolidated through a centralized gaming experience that allows interaction. We believe that through dynamic, complex yet easy-to-build UGC experiences, AVALON can significantly contribute to the development of the Metaverse, while providing an immersive experience with a deep and crypto-compatible economy."
AVALON is a world co-developed with and around players, featuring real-time interactive characters never seen before, made possible through collaborations with AI pioneers Didimo and Inworld AI.
Players can experience AVALON Core, the main gameplay mode designed by the studio, as well as unique worlds and experiences created by users, taking their heroes, items, and progress across various realms. Baek Kim, Partner at HASHED, added:
"We are thrilled to co-lead this investment round for AVALON, a game set to write the next chapter of multiplayer online gaming. The team's industry-leading expertise is immediately apparent through gameplay, graphical fidelity, and innovative deployment of technology, economics, and proprietary content. AVALON has a clear vision for a boundless and connected online experience, and we are excited to see this game become a reality."
With this latest funding round, AVALON aims to further expand its capabilities and deliver groundbreaking gaming experiences to a global audience.
