Blockchain gaming studio Avalon has successfully raised $10 million in its latest funding round, co-led by BITKRAFT Ventures and Hashed, with the participation of various prominent investors. The company plans to utilize the funds to develop the Avalon ecosystem further and launch its massively multiplayer online game, promising players a “never-ending” gaming experience.
The upcoming Avalon metaverse will integrate an AI-powered user-generated content system, incorporating technologies such as Unreal Engine 5. Additionally, Avalon will introduce a series of non-fungible tokens (NFTs) featuring AI-generated avatar NFTs. The studio aims to release the limited early-access edition of Avalon in the coming months.
Based in Florida, United States, Avalon focuses on creating an interoperable digital environment by merging game engines with blockchain technology. The recent funding round brings the total financing raised by the company to $23 million, following a previous round earlier this year that secured $13 million from key investors.
Avalon offers players an AI-powered universe where they can explore dungeons, engage in custom games, discover rare loot, and build new worlds for others to enjoy. Players have the freedom to craft their narratives, which integrate into the central game world, creating a dynamic and collective universe where creators are incentivized to share engaging content with rewards.
Community members determine the game’s rulesets, fund allocation, and global variables, with players owning all assets and worlds authenticated through the decentralized autonomous organization (DAO) system. Avalon aims to revolutionize the gaming industry by combining the complexity of tabletop role-playing games with the vastness of MMOs, empowering players to shape their gaming experiences.