Pixelmon, an NFT project that faced widespread mockery for its initial art reveal during a $70 million NFT sale in February 2022, has successfully raised $8 million in a recent seed funding round. Among the notable investors contributing to this round are Animoca Brands, Delphi Ventures, and Foresight Ventures, the parent company of The Block.
The project, which had garnered criticism for its perceived unattractive artwork, took significant steps to revamp its image. By September 2022, Pixelmon had replaced its original artwork, installed a new leadership team, and outlined a fresh roadmap for its future endeavors. A pivotal moment came in October 2023 when the project launched “Kevin the Adventurer,” a casual side-scrolling game that substantially increased the NFT project’s floor price from 0.35 ETH ($800) to a peak of 1.85 ETH ($4,200).
The recent $8 million seed investment marks another milestone for Pixelmon, drawing support from renowned investors, including Amber Group, 9GAG Founder Ray Chan, and Immutable Co-Founder Robbie Ferguson, as highlighted in a press release.
Pixelmon is a decentralized gaming brand featuring mythical creatures of the same name. This innovative venture is owned by Pixelation Labs, a subsidiary operating under the umbrella of Singapore-based Web3 venture capital firm LiquidX Studios. The successful seed funding round underscores Pixelmon’s ability to rebound from initial setbacks and garner support from prominent players in the industry. The newfound financial backing positions Pixelmon to further develop its decentralized gaming ecosystem and solidify its presence in the evolving NFT landscape.
