Vietnamese GameFi firm gets $6m for metaverse push

Ancient8, a Vietnam-based GameFi developer and blockchain gaming guild, has raised US$6 million in a private round led by Makers Fund and C2 Ventures.

Photo credit: Ancient8

Ancient8 was founded in July last year by Howard Xu and Nathan N. It looks to create infrastructure for GameFi through community building and software development. The company currently has more than 200,000 users on its platform and features more than 25 blockchain games, including high-profile names such as Axie Infinity, CyBall, and Phantom Galaxies, among others.

The firm will use the new funds to boost its GameFi and metaverse infrastructure development. Its upcoming projects include a GameFi identity product as well as a couple of GameFi tokens and non-fungible token launchpads aimed at improving the go-to-market strategy for Web3 games.

“As cultivators of the first native generation of metaverse citizens, we are excited to be building the foundational infrastructure that will drive mainstream GameFi adoption,” Xu said in a statement.

See also: The pitfalls of Vietnam’s GameFi sensation

Earlier this year, Ancient8 secured US$4 million in a seed round led by Dragonfly Capital, Pantera Capital, and Hashed.

Other investors in this round include:

• Pantera Capital
• 6th Man Ventures
• IOSG Ventures
• Folius Ventures
• Morningstar Ventures
• Th3ia Capital
• Sky9 Capital
• Play Ventures