Sipher has closed a $6.8 million seed round of funding co-led by Arrington Capital, Hashed and Konvoy Ventures.
The funding will help accelerate the development of the upcoming World of Sipheria play-to-earn game, which is expected to launch in December.
“The Sipher team, led by Tin Nguyen, is building a crypto-native metaverse with an intricate backstory and unique gaming experience,” wrote Arrington Capital in a blog post announcing the investment. “Sipher combines captivating cypherpunk ideals, crypto-native culture – such as the beloved Shiba Inu – and a comic-book art style in the crafting of its characters and virtual environments. Sipheria constructs a complex and rich lore around the factions and various species: the Inus, Toris, Nekos and Burus.”
Sipher was founded earlier this year by Tin Nguyen. The company previously launched its first non-fungible token (NFT) playable character, Sipherian Surge, which is now available for trading and secondary purchase on OpenSea.
World of Sipheria has two different play modes: adventure, where players can explore and complete quests, and Multiplayer Online Battle Arena, where players compete for stake, rewards and prestige.
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The smallest unit of the 3D world is the Tile, which helps the game evolve. Types of Tiles include medical bays for healing Siphers after a battle, distilleries and workbenches for converting materials into consumable items for fights, and living quarters for displaying player assets, trophies and other NFTs.
“The significance of a player-owned virtual economy with real-world value cannot be understated. Sipher has designed an intricate gameplay and economic flywheel with a dual token economy to ensure sustainable growth and player adoption,” said Arrington Capital in the blog post.