Village Studio Secures $2.3M for NFT based Cross-game Playken Avatars

Village Studio has raised $2.3 million to develop NFT-based cross-game Playken avatars.

May 31, 2022
by Anvi Saini
Village Studio Secures $2.3M for NFT based Cross-game Playken Avatars
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The round was led by Animoca Brands with participation from Venrex, AngelHub, K3, and WinZO, as well as angel investors such as Jas Purewal (chairman, Facepunch) and Phil Mansell (CEO, Jagex).

In a statement, Yat Siu, the executive chairman and co-founder of Animoca Brands, said,

“Village Studio, a team that has strong experience and a clear vision for the future, is building novel experiences in gaming with an emphasis on interoperability. We’re thrilled to be a part of this project and look forward to its success.”

The company will use the capital to make key hires and begin developing the platform and games.

In particular, Village Studio's goal with the Playken avatar platform is to fix issues of interoperability in Web3 games. Playkens are purchasable and tradeable game avatars dressed in NFT wearables. According to the company, each wearable will have its own set of features that can be used in a variety of games.

Will Luton (SEGA, Rovio), Cyril Barrow (Rovio, EA), and Tak Fung (Microsoft, Zynga) co-founded the Web3 platform.

Luton, cofounder and head of product, said in a statement,

“We aim for our tokenomics to build value slowly over time, with players spending in the game year on year, rather than being pump and dump. The sell is fun, not player profit.”

Village Studio did not specify which games would be compatible with its avatars. While the company’s primary goal is to pre-sell its own NFTs, it will also focus on sustainability. This will be achieved via no-proof-of-work blockchains (such as Ethereum, which consumes a lot of energy), no pump-and-dump "ponzinomics," and repeatable and affordable spending options for players. Overall, the company's business model is to sell wearables for the Playken avatars.

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