MonkeyBall, a decentralized play-to-earn gaming platform built on Solana, announced today that it had raised funds from several high-profile investors in a recently completed funding round.
MonkeyBall Receives Fresh Capital
In an official press release shared with CryptoPotato on Monday, MonkeyBall noted that it has managed to increase its list of backers, indicating that it has landed investors with a solid reputation in its first investment round.
The gaming platform is a unique blend of FIFA Street and Final Fantasy rolled into one fun monkey-themed game. Gamers can earn tokens by winning tournaments or simply enjoying other people’s matches.
The MonkeyBall team voiced its appreciation to all parties involved, stating that it is honored to have such high-profile investors interested in participating in the project’s growth journey.
The gaming platform, however, did not disclose the exact amount raised from the investment round.
Alameda Research and Others Invest in MonkeyBall
The fundraiser saw investments from the leading quantitative crypto trading firm and liquidity provider, Alameda Research, New York-based venture capital firm, Rainfall Ventures, Yield Guild Games (YGG), Gate.io exchange, and the Boston-based multi-stage venture capital firm, DRIVE by DraftKings.
MonkeyBall noted that it intends to leverage the vast experience of the DRIVE by Draftkings’ team to pursue its goal of becoming the next-gen esports metaverse.
DRIVE by Draftkings is a multi-stage company that primarily focuses on investing in sports tech and entertainment/ Its ultimate goal is to “push the frontier” of new markets by supporting the founders and teams of innovative products and technologies revolutionizing sports, gaming, and media.
The venture capital firm has made notable investments in several blockchain-based startups and projects, including Papaya Gaming, Cardless, Evaluate, and Whoop, with its investment in MonkeyBall being the latest.
With an experienced team and vast network across the sports and media industry, DRIVE by Draftkings is currently one of the leading strategic sources for venture capital in the sports tech and sports entertainment industry.
MonkeyBall further added that it had been selected to offer the first token-based round to DRIVE by DraftKings.
Meanwhile, the play-to-earn gaming platform raised $3 million in October in its seed round, which saw participation from industry investors, including Solana Capital, Morningstar Ventures, and Youbi.