Video games have come a long way in the previous decades, and online gaming, in particular, has become a hub for cutting-edge crypto innovation.
Faraway has raised $21 million in a Series A investment round headed by FTX and Lightspeed Venture Partners.
a16z, Sequoia Capital, Pantera Capital, Jump Capital, and Solana were among the other investors in the investment round, according to a news release issued by Faraway on Thursday. Faraway secured a $8 million seed round earlier this year, sponsored by Lightspeed Venture Partners.
The financing will go toward integrating the Solana blockchain into Faraway’s most popular game, “Mini Royale,” a battle royale-style first-person shooter akin to Counter-Strike.
According to the press announcement, the browser-based game will use an in-game economy compatible with FTXPay and Solana non-fungible tokens (NFT), making it the first multiplayer video game to do so.
As crypto and blockchain technologies are increasingly used to address basic gaming challenges, the gaming ecosystem is envisaged to flourish.