a16z spearheads $23M funding round for Cryptoys NFT platform
- June 24, 2022
- 0
NFT gaming platform Cryptoys has raised $23 million in a Series A funding round led by venture capital firm Andreessen Horowitz (a16z). GREAT news family! We provided a
NFT gaming platform Cryptoys has raised $23 million in a Series A funding round led by venture capital firm Andreessen Horowitz (a16z).
GREAT news family!
We provided a fund of 23 million dollars. @a16z, @TimDraper, @Mattel, @coinfund_io, @sound_ventures_, @AcrewKapital, @dapperlabs, @animocabrands and others will usher in a new era for the toy and game world! 🥳
More details: https://t.co/Y2BcnUMfB9
— Cryptoys (@Cryptoys) 23 June 2022
Dapper Labs, Draper & Associates, CoinFund, Animoca Brands, Sound Ventures and other investors also participated in the round.
Cryptoys uses the funds raised to create an NFT-based game universe and release an animated series. In the near future, the team plans to introduce three characters from the series.
According to a press release, the startup raised $7.5 million in October 2021, led by a16z. CoinFund is also an early investor.
At the end of May, a16z had raised $4.5 billion in a new fund focused on games, non-tradable tokens and other cryptocurrency initiatives.
The venture capital firm previously launched a $600 million fund focused on “gaming infrastructure and metaverse technologies.”
Recall that on June 21, Uniswap Labs announced the acquisition of a marketplace aggregator of immutable Genie tokens.
Solana-based non-tradable token marketplace Magic Eden has raised $130 million from Electric Capital and Greylock Partners, eBay has acquired NFT platform KnownOrigin.
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I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
