Nyan Heroes Raises $7.5M to Develop Play-to-Earn Game
The investment brings the company's valuation to $100 million.
May 9, 2022 at 10:00 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/PMDFEXV2BFHGHM7SSBEIUKL4QA.jpg)
Nyan Heroes was valued at $100 million after its latest funding round. (Alan Schein Photography/Getty Images)
Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.
Play-to-earn game Nyan Heroes raised $7.5 million in a strategic round to fund game development, according to an emailed press release on Monday.
- The Singapore-based company will use the money to hire more people and for community outreach.
- The investment values the company at $100 million.
- Investors included venture capital firms Kosmos Ventures, Sino Global Capital, Shima Capital and Petrock Capital.
- Play-to-earn platforms have been pulling in funds. LootRush, a platform that helps new users access play-to-earn games, raised $12 million in a seed funding round last week and Rainmaker nabbed $6.5 million in a seed round in December.
- “Sustainable P2E (play-to-earn) game is a buzzword of 2022,” Vladimir Velmeshev, a partner at Kosmos Ventures, said in the statement.
- Nyan Heroes is built on the Solana blockchain and features cute cats in deadly robots.
- The company raised $2.5 million in a seed round led by Three Arrows Capital, Mechanism Capital, and Defiance Capital in late 2021.
- The game is expected to go live toward the end of 2022.
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Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.
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Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.
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