Pixelmon Raises $8M and Prepares to Launch $MON Token
Pixelmon has embarked on its cryptocurrency adventure as one of the prime examples of NFT FOMO, where collectors poured $70 million into hideously misshapen Pokémon look-alikes, prompting the game's founders to label this artwork a "monstrous mistake."
However, two years and ownership changes later, amidst fundraising rounds and an upcoming token launch, Pixelmon is gearing up for a successful 2024.
Recently, Pixelmon announced an initial funding round totaling $8 million, with prominent backers from the cryptocurrency world such as Animoca Brands and Delphi Digital. Additional investors include Amber Group, Bing Ventures, Foresight Ventures, Sfermion, Spartan Group, and others.
Angel investors include Immutable co-founder Robbie Ferguson, Yield Guild Games co-founder Gabby Dizon, FaZe Clan co-founder and CEO Richard “Banks” Bengtson, and Endless Clouds founder known as Loopify, among others.
Pixelmon was acquired by the cryptocurrency studio LiquidX in 2022, just months after the game's disastrous art reveal and subsequent backlash. LiquidX stated that Pixelmon had enough funds to operate for several years without initial funding, but sought to attract major allies ahead of upcoming deployments.
"Previously, only LiquidX supported Pixelmon's vision," said Pixelmon CEO and LiquidX co-founder Giulio Xiloyannis. "We wanted a roster of reputable and supportive partners to help us execute that vision. And the way to bring in such quality, invested partners like Animoca Brands and Delphi Ventures, is to give them an opportunity to participate."
He added, "The reality is that we’ve been operational for over 5 years before this latest cash call, which is truly attractive to our new investors."
After refining the initially Minecraft-like complex art with animated creature models that look more sophisticated, Pixelmon’s current team has developed games revolving around the cryptocurrency IP. They are also working on redefining the brand perception while embracing the chaotic, humorous start that initially made Pixelmon an NFT standout.
Pixelmon first launched Kevin the Adventurer in October last year, featuring the "supernormal" game that attracted approximately 36,000 active players on Base, an Ethereum-native scaling network fostered by Coinbase. Kevin, Pixelmon's fairy-like creature, became a meme phenomenon and serves as Pixelmon’s mascot, even starring in the summer's Base NFT collection.
