Mighty Bear Games secures $10 million in fundraising round led by Framework Ventures for battle royale Mighty Action Heroes
The experienced mobile game developer's first Web3 title is set to come out in early access in Q4 this year.
Mighty Bear Games, a Singapore-based game studio known for successful mobile games, has secured $10 million in a fundraising round led by Framework Ventures.
With the financing also comes the announcement of their new title, Mighty Action Heroes, their first Web3 blockchain game. It’s a free-to-play third-person battle royale where 60 players battle it out as action heroes from the 80s to now.
“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. With decades of combined experience from multiple, established gaming giants, as well as a track record of successful web2 game launches at Mighty Bear Games, this is a team of industry veterans that we think, with the right resources, will deliver games that close the gap between the economic potential of web3 gaming and the artistic, narrative, and experience elements that drive web2 gaming.”
Alongside Framework, the experienced company also received investment from Razer, Polygon, Spartan, Ancient8, Avocado DAO, Ready Player DAO, Mirana, Dune Ventures, Folius Ventures, Sfermion, Sanctor Capital, Play Future Fund, Everblue, Ocular, DWeb3, mrblock, Great South Gate, Play Future Fund and more.
Made to run on the Polygon network, the developers plan to release a genesis PFP collection this summer before the game’s release. This NFT collection will give holders early access to the game during an Early Access Preview as well as allow them to collect cosmetic items and in-game rewards once the game launches in late 2022. During early access PFP owners will be able to help the team by providing feedback.
The CEO of Mighty Bear Games, Simon Davis, commented:
“At Mighty Bear, we believe first and foremost, in games being fun. web3 is already here, but in many ways, its games are lagging behind – lacking the imaginative gameplay and polish the wider gaming community has come to expect. Many existing blockchain games feel like work, with players grinding away at often dull and unrewarding gameplay in exchange for financial gain, but it doesn’t have to be that way.
Our approach to Mighty Bear Games’ blockchain division is and always will be games-first and fun-focused, with ways for players to own assets and earn from them built naturally into the game experience. We're proud to be backed by such a stellar line-up of investors who have the conviction and foresight to be supporting teams in this ‘bear’ market. They truly are the ‘mighty’ ones."
Founded in 2016, the Singaporean game development company consists of industry veterans from Disney, Ubisoft, King, Gameloft, LucasArts, Nvidia, Activision Blizzard and more. Together they’ve developed hit mobile games, such as Disney Melee Mania and Butter Royale, both on the Apple Arcade.
Mighty Action Heroes is set to release in early access in Q4 this year.