Singapore, SG, July 26th, 2022 – Mighty Bear Games, Southeast Asia’s leading multi-platform game development studio, today announced a $10M round to launch its blockchain division and develop a series of immersive AAA web3 games that are novel, fair and thoughtful. The round was led by Framework Ventures and includes additional investment from Mirana, Sfermion, Spartan, Dune Ventures, Sanctor Capital, Folius Ventures, Polygon, Play Future Fund, Everblue, Ancient8, Ready Player DAO, Razer, Avocado DAO, DWeb3, Great South Gate, mrblock and more. Alongside the raise, the studio is announcing its first web3 game slated for release later this year, Mighty Action Heroes, a multiplayer third-person Battle Royale that puts an emphasis on fun, skill, and chaos.
Founded in 2016 by a diverse group of industry veterans with experience at the likes of King, Ubisoft, Lucasarts, Disney and Gameloft, Mighty Bear Games has a proven track record of developing highly engaging games that appeal to universal audiences. The raise follows an impressive period of growth for the studio, which has rapidly established itself as a partner of choice for the world’s leading IPs and platform owners, with immersive, multi-platform games such as Butter Royale and Disney Melee Mania under its belt.
“At Mighty Bear, we believe first and foremost, in games being fun. web3 is already here, but in many ways, its games are lagging behind – lacking the imaginative gameplay and polish the wider gaming community has come to expect,” said co-founder and CEO Simon Davis. “Many existing blockchain games feel like work, with players grinding away at often dull and unrewarding gameplay in exchange for financial gain, but it doesn’t have to be that way. Our approach to Mighty Bear Games’ blockchain division is and always will be games-first and fun-focused, with ways for players to own assets and earn from them built naturally into the game experience. We're proud to be backed by such a stellar line-up of investors who have the conviction and foresight to be supporting teams in this ‘bear’ market. They truly are the ‘mighty’ ones."
Building upon the studio’s expertise in developing genre-defining experiences from scratch, Mighty Bear is focused on eliminating the traditional barriers to entry to blockchain gaming to engage non-crypto native and crypto native communities alike. The studio’s games-first, play-and-earn approach in web3 will be fun and fair – helping define the next generation of gaming by allowing players to feel truly rewarded for their skill-based gameplay.
“With the entire crypto gaming industry still innovating and defining the most effective game mechanics, we think the Mighty Bear team is one of the best positioned to launch genre-defining titles in this new space,” said Daniel Mason, Operating Partner at Framework Ventures. “With decades of combined experience from multiple, established gaming giants, as well as a track record of successful web2 game launches at Mighty Bear Games, this is a team of industry veterans that we think, with the right resources, will deliver games that close the gap between the economic potential of web3 gaming and the artistic, narrative, and experience elements that drive web2 gaming.”
Mighty Action Heroes will be powered by Polygon, the leading carbon-neutral Ethereum scaling solution designed to improve Ethereum functionality and promote infrastructure development. Mighty Bear Games will also receive support from Polygon Studios in the form of funding, marketing, technical advice, strategy and ecosystem support.
Urvit Goel, Head of Games BD at Polygon Studios, said, “Mighty Bear Games' player-centric approach is precisely what we look for in quality web3 projects, and we're thrilled to welcome them into our burgeoning ecosystem. Their recent raise demonstrates the appetite for a game-first approach to web3 gaming exemplified by Mighty Bear’s products, and we look forward to seeing Mighty Action Heroes come to fruition.”
Ahead of the launch, Mighty Bear will release an NFT PFP collection and engage the community this summer, with each NFT offering immense utility within the game and beyond. Each PFP holder will gain early access to the game during the Early Access Preview and be able to give feedback and stay involved throughout development. PFP holders will also be able to collect in-game rewards and cosmetic items when the game releases in late 2022.
For more information about Mighty Bear Games or to download the current portfolio of games please visit: www.mightybeargames.com
For visual assets, please see Dropbox.
About Mighty Bear
Mighty Bear Games is the leading Singapore-based studio building the next generation of mobile-first, multi-platform games. Founded by a world-class team of industry veterans with experience at the likes of King, Ubisoft, Lucasarts, EA, Gameloft and Disney, the studio is reimagining gaming to create accessible, genre-defining, multiplayer experiences in web2 and web3. Mighty Bear is a value-driven company committed to transparency, diversity and positivity in all that they do.
Polygon is the leading blockchain development platform, offering scalable, affordable, secure and sustainable blockchains for web3. Its growing suite of products offers developers easy access to major scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone and enterprise chains, and data availability. Polygon’s scaling solutions have seen widespread adoption with 19,000+ decentralized applications hosted, 1.6B+ total transactions processed, 142M+ unique user addresses, and $5B+ in assets secured. Polygon is carbon neutral with the goal of leading the web3 ecosystem in becoming carbon negative.
About Polygon Studios
Polygon Studios aims to be the home of the most popular blockchain projects in the world. The Polygon Studios team is focused on supporting developers building decentralized apps on Polygon by providing web2 and web3 teams with a suite of services such as developer support, partnership, strategy, go-to-market, and technical integrations. Polygon Studios supports projects from OpenSea to Prada, from Adidas to Draft Kings and Decentral Games to Ubisoft.
About Framework Ventures
Framework Ventures is a team of technologists, researchers and investors who buy assets of, who build for, and who participate in open crypto networks. At its core, Framework is a technology company, building products and services to support the open blockchain networks that they invest in. Through its registered investment adviser, Framework Ventures Management LLC, the firm has backed dozens of notable companies in the decentralized finance and Web3 space. Information contained herein is accurate as of the date of publication and is subject to change. Disclaimer: This is not investment advice and readers should not construe discussion of any particular organization as a recommendation to purchase or sell, or a solicitation of an offer to purchase or sell, any securities or digital assets related to such organization.