Oak Grove Ventures has participated in a $4 million seed funding round for “Legend of Arcadia” (LOA), a Web3 game developed by Hong Kong-based studio Mugen Interactive. The round included notable investors such as Animoca Brands, OKX Ventures, Arche Fund, Selini Capital, SNZ Capital, and angel investor Sebastien Borget, co-founder of The Sandbox.
LOA is a multi-chain free-to-play strategy card game combining traditional gaming with Web3 GameFi 2.0 concepts. Set for release in Q4 2024, the game features six modes across PvP and PvE, allowing players to control NFT “toy heroes” in the fictional world of Arcadia.
Oak Grove Ventures, leveraging its Web3 sector expertise, will support LOA’s growth and expansion. The firm recognizes the strong background of the development team, which includes members from leading Web2 gaming companies like Tencent, Hero Entertainment, and Xishanju, with over 15 years of industry experience.
This funding, amid challenging GameFi market conditions, signals investor confidence in quality Web3 games. Oak Grove Ventures sees LOA as a potential catalyst for redefining the GameFi ecosystem and accelerating Web3 gaming adoption globally.
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