Animoca Brands Leads Farcana Studio in a $10 Million Seed Funding Round
In a December 14 report, the Farcana Studio confirmed it would generate $10 million in a seed funding round led by Animoca Brands. The successful fundraising was backed by leading investment managers collaborating with crypto firms.
The December 14 blog post, reveals that Farcana’s funding round was supported by Polygon Ventures, Merit Circle, and Fenbushi Capital. Other companies participating in the funding round included Rarestone Capital, MMPro, Kapo Capital, Emchain, Dravus Investment and Unpopular Ventures.
Farcana Studio Secures $10M in Seed Funding Round
According to the announcement, the Dubai-based AAA game developer stated that the multi-million investment will be redirected towards developing a third-person multiplayer shooter game. The gaming company plans to introduce blockchain features such as tournaments and rewards systems to offer the best players Bitcoins.
The developers of the Farcana shooter game plans to launch the game in free mode before introducing nonfungible token (NFT) features. A report from the chief executive of Farcana Illman Shazhaev demonstrated that the gaming industry had been the primary source of government revenue in the Middle East.
Farcana Studio Seeks to Integrate Blockchain into its Gaming Features
The CEO admitted that the Farcana team was currently working on integrating esports with emerging technologies such as blockchain. This development aims to enable Farcana to combine Web3 games with esports.
The executive believes that if Farcana successfully integrates its existing gaming features with emerging technologies, game enthusiasts will enjoy exclusive gaming experiences with fewer requirements.
As the players seek lucrative avenues to improve their overall well-being, the CEO confirmed that Farcana’s latest development aims to add more value to the game creators and developers.
In support of Shazhaev’s remarks, the co-founder of Animoca Brands, Yat Siu, confessed to working with Farcana for the last 12 months. The executive was delighted to state that much has been achieved through the collaboration between Animoca and Farcana.
Review of Web3 Adoption in MENA
Siu confirmed that the collaboration between the two gaming companies aims to support the adoption of Web3 in the Middle East and North Africa (MENA) region. The executive noted that MENA had demonstrated a growing interest in emerging technologies, and the Animoca team anticipates that new products will be developed through the partnership with Farcana.
Interestingly, the successful funding round was closed days after Farcana was announced as a gaming partner for Abu Dhabi Gaming BLAST Festival 2023, to be held at the Etihad Arena in Dubai. At the event scheduled on December 16, the Farcana team will showcase its multiplayer third-person shooter game.
This game was first launched in early June at the Dubai Esport Festival in its alpha version. During the launch, the Farcana team collaborated with the Dubai Economy and Tourism Department, Alienware, and Dell company. At that time, the Farcana team demonstrated that their new game seeks to transform the gaming sector by offering the players various gaming features.
A review of the multiplayer shooter game demonstrates that Farcana’s latest development mirrors some of the gaming features on the Blizzard Overwatch, such as the walled maps.
The launch of the new game demonstrates Farcana’s unwavering commitment to improving gaming experiences. The gaming company stated that its native token, FAR, will be used to complete gaming transactions.
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