Chibi Clash secures $3M to build a Web3 gaming universe

Chibi Clash, a web3 gaming universe that seeks to offer a free-to-play gaming experience – with NFTs –, has raised $3 million in a private funding round from leading angel investors and venture funds.

Participants included Alliance, NGC Fund, Genblock Capital, Polygon Ventures, Jump Capital, C² Ventures, Rainmaker Games, Kyros Ventures, PANONY, and Shima Capital. Angels included Nick Chong, Jack Teoh, Santiago Santos, Cozomo de’ Medici, and Peter Ing.

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The financing is Chibi Clash’s initial capital ahead of its initial DEX offering (IDO), the platform said in a press release shared with Invezz on Tuesday.

Ted Mui, founder of Chibi Clash said the investment is a boost to the Web3 gaming ecosystem.

Coming from the mobile gaming world, I believe web3 gaming has the potential to disrupt the gaming ecosystem by creating value for players and collectors. We are still in the early stages of web3, and with Chibi Clash I believe we can build a fun and sustainable play-to-own ecosystem that will appeal to both traditional gamers and crypto enthusiasts alike.

Expanding play-and-earn gaming on Polygon

Chibi Clash’s gaming universe is centred around its free-to-play PvP game Chibi Clash Auto Battler and integrates NFTs in the gameplay. The native CLASH token and NFTs allow players  to unlock additional benefits, including play-to-earn opportunities.

Urvit Goel, VP of Games BD at Polygon Ventures said:

We are excited to be on this journey with Chibi Clash and fully support their development of groundbreaking play-and-earn gaming ecosystem on Polygon.”

Chibi Clash counts several gaming industry veterans among its team, with developers from industry giants like Zynga, EA, Funcom and Bandai Namco. Their Web3 game draws largely on the gameplay and art style from Hearthstone Battlegrounds and MapleStory respectively.