On Tuesday, Mighty Bear Games announced a successful $10M funding led by Framework Ventures. The studio also launched a blockchain gaming campaign in which they announced their first blockchain game Mighty Action Heroes.
Ready Player DAO, Avocado DAO, Mirana, Razer, Polygon, Dune Ventures, and Sfermion also participated in the funding round.
Mighty Action Heroes will be released later this year. The studio has plans to build and release more AAA blockchain titles in the future. According to Mighty Games Studios, the immersive AAA games will be “novel, fair, and thoughtful.”
Mighty Action Games will keep building blockchain play-to-earn games in the future, starting with Mighty Action Heroes – a third-person multiplayer battle royale title that emphasizes fun, skill, and chaos. The game will be built on the Layer-2 scaling blockchain protocol, Polygon.
Founded in 2016, the studio was built by a strong team of veteran developers with extensive experience in the space. The devs are from Gameloft, Disney, Ubisoft, Lucasarts, and King.
Just like many gaming giants, Mighty Action Heroes also believes that the gaming industry is all set to shift to blockchain and decentralized gaming.
Simon Davis, CEO of Might Bear Games, said the following:
“There is a platform shift every ~ ten years in gaming. The team and I witnessed the shift from browser to social and social to mobile. We are convinced that the next shift is from company-owned games to community-owned games.”
“We believe the current play-to-earn games are not sustainable, and we are leaning into an evolved play-and-earn economy instead,” he added.
Davis also explained that the gaming mechanism is built in a way that will encourage competition and “reward the players that add value to our ecosystem,” he added.
He also went on to explain the Free-to-Play design of the game in which the players can begin playing the game for free.
“Players can either “upgrade” to the NFT world by getting their first asset, or they continue in the F2P world and spend Fiat on items like off-chain heroes, off-chain weapons, or off-chain cosmetics.”
What this means is that even if you’re not in for blockchain aspects of the game, you can still play the game.
Daniel Mason (Operating Partner at Framework Ventures) commented, “With the entire crypto gaming industry still innovating and defining the most effective game mechanics, we think the Mighty Bear team is one of the best positioned to launch genre-defining titles in this new space.”