Avalon Corp Secures $13 Million Funding for AAA Web3 Project: Unveils Stellar Team of Sony and Ex-EA Developers

Avalon Corp Secures $13 Million Funding for AAA Web3 Project: Unveils Stellar Team of Sony and Ex-EA Developers

Play-To-Earn Games News, P2E Games News | 08 May 2024 09:04 UTC

Sony Game Developers and Ex-EA Developers Comprise Avalon Corp Team

Avalon Corp.'s Digital Universe receives $13 million in funding to launch an AAA project in the Web3, metaverse, and blockchain gaming

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The world is molding itself towards the crypto universe for investments as well as the future. Big companies are getting interested in blockchain and metaverse, or AAA multiverse, and looking for different ways to be a part of it. In a similar effort, Bitkraft Ventures has raised $13 million in funding along with other companies to fund Avalon Corp, a Web3 gaming startup working on the Avalon universe. The companies included are Hashed, Delphi Digital, Mechanism Capital, Coinbase Ventures, and others. The round also received funding from some angel investors, including former Microsoft executive Charlie Songhurst and Twitch co-founder Kevin Lin.

The big news is their team of developers, has worked in huge tech companies like Electronic Arts, Microsoft, Blizzard, and Sony. The studio's first game will be Avalon, which runs on Unreal Engine 5 and has some MMO and Web3 metaverse elements. However, CEO Sean Pinnock of Avalon Corp. and Chief Product Officer Jeffrey Butler told Decrypt in an interview that they don't perceive Avalon as a metaverse. The main reason for the reluctance is how the term has been taken and misapplied in the digital world.

Butler remarked of the term "metaverse" that "everyone's kind of leaping onto this word and just pounding the poor word to death," adding that practically every big brand, whether they be a fast food chain or fashion industry, has somehow associated themselves with the creation of their own metaverse.

The Avalon Universe

According to Pinnock, Avalon Corp is building an interoperable AAA Web3 universe at Avalon so that content creators can build the worlds they envision. And their idea is to somehow ignore the word ‘metaverse’ as it would be extremely difficult, if not actually impossible, for a single firm to create such a thing. “We’d like to empower gamers, creators, and anyone else to build worlds. And then those worlds, over time, could become something like an Oasis from Ready Player One.”

According to the duo, the game developers will create the most accurate representation of any Web3 "metaverse." It is not something the consumer brands can achieve because they haven't got the necessary expertise to create AAA games.

According to Pinnock, Avalon could host major brands looking to stake their claim in its universe with their own intellectual property and unique experiences. The duo also revealed a significant piece of information: the current COO of Avalon Corp. previously held the position of Head of Business Development at Bandai Namco's North American division, which is the owner of the intellectual property rights to well-known Japanese properties like Dragon Ball Z, Naruto, and One Piece.

Avalon Corp, metaverse, Web3, Avalon Universe, Blockchain
Avalon Corp, metaverse, Web3, Avalon Universe, Blockchain

Avalon Corp and Blockchain Options

Pinnock advocated quite strongly for Ethereum Layer 2 protocols. However, Avalon hasn't yet chosen a single blockchain to support and enable its interoperable economy. Pinnock declared that he personally thinks quite highly of Layer 2 Ethereum technologies. According to him, the nice thing about that technology is that it has a much lower environmental impact than credit card swipes and costs much less in gas for transactions. He also added that they are able to obtain the transactional scalability they desire. Moreover, digital ownership is crucial to how blockchain will play its role in Avalon. As a result, the blockchain will act to certify all of Avalon Corp's assets inside Avalon.

While talking to the media, Pinnock said that it is imperative for this technology to follow true decentralization. The reason lies in it is among the most intrusive ones ever made. Butler has been a part of the video game industry for nearly ten years with Sony Online Entertainment working on some hit AAA games. Pinnock was of the opinion that cutting-edge technology like Unreal Engine 5 enables the group to create the style of massively multiplayer environment they desire, at the appropriate scale.

The Avalon Metaverse Offers More

However, Avalon will be much more than just a virtual environment to explore; it will inculcate AAA gaming elements. Moreover, it will allow users to transfer money between Web3 virtual "worlds" using crypto and NFTs. The startup is also hopeful of collaboration with AI companies. It plans to eventually deploy a feature that will let users design their own worlds using generative AI technology.

While the team realizes that not every game may have the PC hardware needed to play Avalon Corp's universe at a high level, their goal is to make it an AAA-quality game. Pinnock adds that there is a cloud offering for Avalon. His plans are for a cloud gaming component that hosts and renders data online, not on the user's computer.

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