Shrapnel raises $7M in private token sale and reveals plans for shooter title
GamesBeat Summit 2022 returns with its largest event for leaders in gaming on April 26-28th. Reserve your spot here!
Shrapnel has raised $7 million in a private token sale for its planned triple-A shooter game that takes advantage of blockchain technology.
The company, also called Shrapnel, has also released its white paper and unveiled its roadmap in the wake of the token sale.
Those who bought the tokens (in a way for the company to raise money among private investors) included Dragonfly, Defiance, Three Arrows Capital, Mechanism, Sfermion, Spartan, and Overwolf. Angel investors include the first pro-gamer Dennis Fong aka Thresh; Stephen Lim, Co-founder of Valorant and Raid Base; Brian Lee, Co-founder of The Honest Company; Keith Nunziata, Portfolio Manager at Citadel Global Equities; and Jason Zhao, partner at Kleiner Perkins.
The news follows a $10.5 million seed funding round led by Griffin Gaming Partners, alongside Polychain Capital and Forte, which took place last October. Since then, the Seattle-based Shrapnel team has grown from seven full-time employees to 30 employees, with hiring efforts ongoing.
Spun-out from HBO Interactive, the Shrapnel team has a lot of experience in transmedia, virtual production, and gaming-as-a-service. Comprised of BAFTA and Emmy award-winning game industry veterans hailing from some of the world’s leading game companies including Xbox, Electronic Arts, and LucasFilm, the Shrapnel team wants to combine compelling competitive gameplay, with a rich set of community creator tools to deliver an ever-evolving game experience.
Mark Long, CEO at Shrapnel, said in a statement, “Player-generated content is the core of the Shrapnel experience and even though we’re just getting started, we already
Read more on venturebeat.com
