Blockchain gaming studio Sipher secures $6.8 million in seed funding co-led by Arrington Capital, Hashed and Konvoy Ventures.
Sipher
Vietnam-based Sipher is developer of blockchain PvP PvE MOBA game for all age group. All players assets and achievements are NFTs.
Seed Funding
The seed funding round was co-led by Arrington Capital, Hashed and Konvoy Ventures.
Sipher further attracted the participation from other venture capital firms, including Defiance Capital, Signum Capital, Dragonfly Capital, CMT Digital, BITKRAFT Ventures, Delphi Digital, Alameda Research, Fenbushi Capital, Sfermion, Hyperchain, GBV, Kyber Network, Coin98 Ventures, YGG and Merit Circle.
The company also welcomed notable angels including Holly Liu (Kabam), Kun Gao (Crunchy Roll) and Alex Svanevik (Nansen.ai).
World of Sipheria
The gaming firm plans to use the new fund to accelerate the development of its upcoming World of Sipheria game and continue to build the tools needed to create compelling, fun and engaging gaming experiences based on blockchain technology.
Sipher’s next priority is launching the playable MVP of the first gaming experience in the World of Sipheria. The experience will introduce a cooperative dungeon game mode that will onboard new waves of native and non-native blockchain users through beautiful design and graphics, compelling gameplay, expansive world lore hidden with secrets to be discovered and the ability to take part in the game economy. It is also preparing to release its second collection called the Sipherian Flash, a drop of 10,000 limited Sipher Nekos as playable characters.
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Founded by prominent Vietnamese CEO Nguyen Trung Tin, who counts accolades such as inclusion on Forbes’ prestigious 30-Under-30 list upon an enviable CV, and has set Sipher on a mission to unify state of the art blockchain tech, artwork, storytelling, multiplayer gaming with decentralized financial technologies.
The company’s vision is to create an expansive world that will attract and keep the player base engaged for years to come as new worlds, characters and factions are introduced. Sipher is fostering an ecosystem where people can play for fun while also being rewarded for their time spent in-game. By leveraging blockchain technology, Sipher is bringing economic freedom to gamers and providing the community with ownership of in-game assets which directly contributes to the growth and success of the gaming industry.
Nguyen Trung Tin, Sipher CEO, said:
“First and foremost, games are meant to be fun,” Tin says. “They are meant to be social. They are meant to invigorate, excite and bring people together for a common purpose, to enjoy time spent with each other. This is true for the most classic and for the most futurist of games. This is what makes games the most powerful medium for sharing and discovering amazing moments together.”
Online Gaming Is Now A US$300 Billion Market
According to a new report from Accenture, the full value of the gaming industry now exceeds $300 billion. This is more than the combined markets for movies and music.
The report finds that more than 400 million new gamers are expected by the end of 2023, bringing the total number of gamers to more than 3 billion globally.