By Michael Scott
The Web3-based gaming developer, DOGAMÍ’s, for mobile devices confirmed securing a $14M seed fund. The December 12 statement by the company behind mobile games that utilize augmented reality and nonfungible token (NFT) companions thanked participants in the latest round.
Funding Round Signals Increased Interest in Web3 Projects
The statement confirmed receipt of $7 million from XAnge venture capital in the latest funding round. The statement acknowledges the critical input of crypto industry leaders who raised $6M in January.
DOGAMÍ thanked its community members for recognizing hailing from over 80 countries. The statement lauds the acceptability of DOGAMÍ’s offering translating to 12,000 dog avatars NFTs. The gaming company indicated that canine accessories sold to match the dog avatars by leveraging the collaborative input of the GAP clothing retailer.
Features of DOGA House Application
The detailed statement disclosed the recent milestone of launching the mobile application – DOGA House. DOGAMÍ’s representative illustrated that the mobile application eases the discovery and users’ interactions with NFT puppies hosted within the DOGAMÍ ecosystem.
The company representative reaffirmed that users earned DOGA cryptos from interacting with NFT puppies hosted within the DOGAMÍ’s universe.
The DOGAMÍ’s successful funding round mirrors the increased uptake of web3-based products. The company’s statement downplayed speculations that the bear market had eroded participation in the game’s project. Instead, it illustrated that games developed from blockchain and Web3 infrastructure were securing meaningful funding.
Gaming Sector Resilience
The statement downplayed an earlier report by DappRadar, an analytical service firm that indicated the disastrous nature of FTX collapse could adversely affect the gaming segment. Surprisingly, the Web3 and blockchain ecosystem is upbeat, with the recent DappRadar analysis revealing over $320 million in funding raised in November.
A significant portion of the funding is attributed to $150M funding secured by Fenix Games in the late November round. The Web3 game publisher confirmed it would allocate funds to acquiring startups while expanding its presence in distributing blockchain games. Fenix chief executive Chris Ko lauded the increased interest in Web3 infrastructure, particularly from Dubai’s Cypher Capital and Phoenix Group.
Meanwhile, participants in the funding rounds reiterated the need for DOGAMÍ to nurture a gaming ecosystem that will support publishing and mainstreaming next-generation games.