Developer Of First Mobile-Based Web3 Game, DOGAMI, Raises $14 M In Seed Funding Campaign
DOGAMI’s Seed Funding Round Raises whopping $14 Million
Currently, there are various mobile-based Web3 games under development, however, DOGAMI is undisputedly the first which is also under construction.
The gaming company has recently wrapped up its seed funding round in which it has raised funds exceeding $14 Million.
In the seeding round, XAnge, which is a tech investor hailing from the EU region, became the lead fund contributing investor. XAnage alone pooled half of the total funds raised i.e. $7 Million into the DOGAMI project.
P2P App Launch
Meanwhile, DOGAMI has sent live a mobile-based app. The purpose of the app is to allow users in adopting, feeding, and looking after NFT pets. Furthermore, pet owners can use NFT pets as playable characters in the game.
People tend to love the products and services where they not only get to own some kind of pet but also pet them. This ensures that the product is going to be a success in the long run.
DOGAMI will consist of dog pets and offer gamers a play-to-earn (P2P) experience wherein rewards shall be paid in DOGAMI’s native crypto, $DOGA.
Funds Reserved For Expansion
It has been informed by DOGAMI that the raised funds have been reserved for expansion purposes. It said that the project aims at growing its reach in Web3 games for attracting the mainstream gaming community.
Within the collected seed money, about $7 Million funds were contributed by a European investor, XAnge.
While the other notable participants included investors from Europe and Singapore such as Bpifrance, Wagram Capital and Blockchain Founders Fund, etc.
Major companies from around the world have been taking interest in supporting unique and promising crypto and non-fungible token projects.
The reason behind DOGAMI’s successful funding round is the experience it promises to offer.
Initial Funding Campaign
DOGAMI commenced its initial seed funding round in January 2022. At that time, the campaign raised about $6 Million in which industry giants took a part.
For instance, tech giants like Ubisoft, GSR, Animoca, Sandbox, Tezos, and Draper Goren Holm contributed to DOGAMI’s initial funding round.
Record Sales of NFTs
The funds collected in the initial round enabled DOGAMI to mass selling of two sets of NFT collections. One set of collections comprised dog pet avatars wherein approximately 12,000 NFTs were sold.
While the other collection consisted of canine accessories and a total of 12,000 NFTs were sold in a public auction.
Massive Attraction at Global Level
Since January 2022, DOGAMI has been able to attract massive interest across the globe. Its NFT pet dog owners’ community spreads over more than 200,000 individuals from at least 80 countries. The community mainly consists of both, males and females, of an average age between 14 to 30 years old.
The total manpower of DOGAMI is less than 50 employees. Because of their exclusive efforts, DOGAMI has been able to send live its first-ever mobile app called ‘DOGA House’.
Unique Gaming Experience
The app is a downloadable app in which DOGAMI NFT holders can add to their dog pet avatars and play DOGA House.
DOGA House promises to offer a never-played experience. In the first 14 days after the launch, the game can facilitate about 70% of NFT dogs.
This 70% of pet owners shall have the option of playing DOGA House once every day.
The app can be downloaded from DOGAMI’s website and can be played on a mobile device based on iOS and android operating systems.
Most importantly the pet owners would have the option of playing to earn $DOGA as long as they have been playing the game.
So the option of earning returns on investment is therefore for DOGAMI pet dog NFT collectors.
For the time being, $DOGA has limited use cases. Two of them are buying NFTs and spending them while registering for an upcoming DOGAMI event.