Published on: 27/07/2022
Mighty Bear Games Gets $10 Million for Mighty Action Heroes Web3 game
Mighty Bear Games has received $10 million to launch its first Web3 game, Mighty Action Heroes, as the result of a successful round of funding led by Framework Ventures. The studio described the game, slated for early access by the end of the year, as “a multiplayer third-person Battle Royale that puts an emphasis on fun, skill, and chaos”.
Mighty Bear Games is a Singapore-based blockchain gaming company founded in 2016 by game developers from various studios such as Ubisoft, LucasArts, Gameloft and Disney. The company is looking to create a series of AAA blockchain games that appeal to players interested in crypto and regular players. It has produced four mobile games: Disney Melee Mania, Butter Royale, Best Friends Cafe and World of Legends. Two of which are still active and receive regular updates.
Future of gaming
Mighty Bear Games believes that decentralized gaming ecosystems are the next trend in gaming. The CEO, Simon Davis, once said, “There is a platform shift every ~10 years in gaming. The team and I witnessed the shift from browser to social and social to mobile. We are convinced that the next shift is from company-owned games to community-owned games.”
Davis, however, has expressed his doubts about the current play-to-earn models, believing them not sustainable as the current offerings do not have rewarding enough gameplay to justify the time spent. Therefore, his company aims to create games based on a play-and-earn model with fun as the primary focus. This model rewards players based on their skills and value to the community to encourage competition and community involvement.
A free-to-play model, designed to cater to players not interested in blockchain technology will also be utilized in their new game. “Players can either ‘upgrade’ to the NFT world by getting their first asset, or they continue in the f2p world and spend Fiat on items like off-chain heroes, off-chain weapons, or off-chain cosmetics,” Davis elaborated, adding that he hopes players in Mighty Action Hero will be able to build up and earn assets as a natural part of the game’s experience.
Post-funding plans
Daniel Mason, the Operating Partner at Framework Ventures, commented on Mighty Bear Games’ latest successful funding round: “With the entire crypto gaming industry still innovating and defining the most effective game mechanics, we think the Mighty Bear team is one of the best positioned to launch genre-defining titles in this new space.”
Davis believes many investors are still excited about the future of decentralized, community-focused games. Despite the recent crypto winter, he remains hopeful for the future. “Player ownership of items and game economies will be the next evolution of gaming,” said Davis.
Mighty Bear Games will release a set of NFT PFP collections before the launch of Mighty Action Heroes that offer a set of rewards to any owners. Early access to the game, in-game items, and exclusive cosmetics are just a few of the incentives discussed by the company. No gameplay footage or demo has been released yet, but the studio has revealed some gameplay and in-game systems screenshots.
