Chibi Clash closes private funding round of $3m

Fantasy web3 gaming universe Chibi Clash closed a private fundraising round for $3 million with notable VC firms and angels. The round will secure starting capital ahead of an upcoming IDO, Cointext learned from a press release. 

Participants in the financing round included Polygon Ventures, Jump Capital, C² Ventures, Kyros Ventures, Alliance, Genblock Capital, NGC Fund, PANONY, PetRock Capital, Avocado DAO, Shima Capital, and Rainmaker Games. 

Key angel investors were Santiago Santos, Cozomo de’ Medici, Nick Chong, Jack Teoh, Peter Ing and more.

Building a web3 gaming universe

Chibi Clash is creating a web3 gaming universe around its flagship auto battler game under the leadership of a team of gaming industry veterans.

In Chibi Clash Auto Battler, an asynchronous PvP game, players recruit, enhance, and send warriors into battle. The goal of the game is to win 10 times without losing morale. 

Free to play 

The game is completely Free-to-Play. NFTs provide play-to-own mechanics, additional gameplay features, and other benefits to holders. Chibi Legend NFTs holders will be able to choose from more weapons and avail of a Tier 3 upgrade of those. 

Chibi Clash will also introduce new ways to integrate and use NFTs in its Phase 2 gaming ecosystem. 

Its multi-stage road map will feature a social gaming experience built for web3, guild leaderboard competitions, idle NFT game play, and an NFT marketplace to buy and sell items for CLASH tokens. With time, more play-to-own features will be revealed. 

Urvit Goel, VP of Games BD at Polygon Ventures, commented:

Chibi Clash is creating one of a kind web3 gaming universe driven by fun and addictive PvP gaming experiences. We are excited to be on this journey with Chibi Clash and fully support their development of groundbreaking play-and-earn gaming ecosystem on Polygon.

Ted Mui, Founder of Chibi Clash, added:

We are thrilled to be working with amazing investors who share our vision in web3 gaming. Coming from the mobile gaming world, I believe web3 gaming has the potential to disrupt the gaming ecosystem by creating value for players and collectors. We are still in the early stages of web3, and with Chibi Clash I believe we can build a fun and sustainable play-to-own ecosystem that will appeal to both traditional gamers and crypto enthusiasts alike.