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Dubai-based gaming studio has Farcana has raised $10 million in seed funding from a multi-fund round which included Animoca Brands, a Hong Kong-based gaming software and venture capital (VC) company and Shanghai-based blockchain focused VC Fenbushi Capital.
Farcana produces a competitive interactive game set on Mars in which players can win Bitcoin rewards.
The other participants in the round were Polygon Ventures, Merit Circle, Rarestone Capital, MMPro Trust, Unpopular Ventures, Kapo Capital, Emchain, Hasu Capital, Dravus Investment as well as others.
Illman Shazhaev, CEO and founder of Farcana, said in a statement: “Games have created what’s one of the biggest economic contributors to our society, and the combination of esports with up-and-coming technologies like blockchain is something we’re trying to achieve.”
Yat Siu, co-founder and executive chairman of Animoca Brands said: “Our strategic investment into Farcana is part of the vision of Animoca Brands to drive Web3 development in MENA; the region is rapidly modernising and adopting emerging technologies, and we’re excited to support partners such as Farcana as they actively lead the sector and bring exciting products to market.”
Farcana’s team includes Carlos Rodriguez, esports player turned entrepreneur, and founder and former CEO of G2 esports.
(Reporting by Imogen Lillywhite; editing by Daniel Luiz)
