NFT Gaming Startup Pixelmon Relaunches with $8 Million Funding After Controversy

• Pixelmon, an NFT gaming startup embroiled in controversy last year.
• The seed round was led by Animoca Brands and Delphi Digital.
• With new leadership installed after its flagship NFT project crashed.

Revival efforts for Pixelmon

Pixelmon, an NFT gaming startup that saw its valuation crater last year amid controversy, has raised $8 million in new seed funding as it aims to restart development and rebuild community trust.

The funding round was led by blockchain gaming firm Animoca Brands and venture capital company Delphi Digital. Amber Group, BingX, and other investors also participated.

Funds for casual mobile games

Pixelmon will use the fresh funds to continue developing casual mobile games using its Pixelmon intellectual property, starting with the upcoming title PixelPals.

This comes after the company launched its first casual game, Kevin the Adventurer, in October 2022.

Rebuilding trust

The new financing marks a reboot attempt for Pixelmon after its flagship NFT project crashed in 2022 amid backlash over poor artwork and rumors of mismanagement.

VC firm LiquidX later bought a majority stake in the startup and installed a new leadership team, including LiquidX co-founder Giulio Xiloyannis as Pixelmon’s CEO.

With fresh funding and leadership, Pixelmon now seeks to rebuild community trust and deliver on its initial gaming vision.