Vietnamese indie game studio raises $1m for new blockchain game

Vietnamese game studio Topebox and its blockchain partner KardiaChain have announced the conclusion of a nearly US$1 million round of investment for an upcoming blockchain game called My DeFi Pet.

Photo credit: Topebox

Investors include Shanghai-based Axia8 Ventures and OKEx Blockdream Ventures, the investment arm crypto exchange OKEx in Hong Kong. Megala Ventures, one of the largest institutional investors of blockchain and distributed ledger technologies in Southeast Asia, and Hong-Kong based Animoca Brands, which owns a series of game developers, also joined the round.

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Based in Ho Chi Minh City, Topebox was the brains behind some hits like Pocket Army, Sky Dancer: Free Falling, and King Rivals. Last April, it bagged US$1 million in seed money from mobile publisher Habby in exchange for 16% equity.

My DeFi Pet is the independent studio’s first blockchain gaming project. To be launched globally in mid-May, the game will include both decentralized finance (DeFi) and non-fungible token (NFT) features. Accordingly, users could earn tokens by playing the game, getting rewards from participating in the seasons and selling their monster game characters for profits.

The NFT sector has been getting a lot of attention lately. Within the NFT game market, startups across the globe have raised millions of dollars to capture the growing interest among users to own unique digital assets.