The blockchain gaming sector has grown significantly over the years and that has resulted in an increase in investment inflows. Last year, a survey showed that The global blockchain gaming industry is expected to reach $65.7B by 2027. The increased investment in blockchain games is propelling the blockchain gaming sector forward.
Making use of that, Nefta, a UK-based Web3 gaming and entertainment platform, raised a $5M seed investment funded by venture firm Play Ventures’ Future Fund. This current round of funding follows a $1M investment from Picus Capital in June 2022.
Play Ventures, a renowned venture capital firm that invests in the most promising Web3 and free-to-play gaming companies from across the world, made a $2.5M investment from its Future Fund. Picus Capital, Nefta’s previous investor, along with SevenX Ventures, Sfermion, MZ, and Polygon Ventures, supported the deal.
Nefta will use this amount of funding to grow its business and staff, extend its market presence, and realise its mission of becoming the go-to platform for exceptional Web3 solutions.
Nefta, which was founded in 2022 by Geeshan Willink, Fernando Pernica and Kai Goldmann, is an end-to-end platform that helps game studios design, launch, and grow high-quality Web3 games. Developers may simply integrate gaming-specific NFTs, multi-chain wallets, tokens, custom markets, and more using Nefta’s APIs and SDKs. Nefta’s platform also provides vital knowledge into blockchain game economics, monetisation, and user data to game producers.
Together, Geeshan Willink, Fernando Pernica, and Kai Goldmann have 40 years of expertise creating gaming, financial, and adtech firms. They also have first-hand experience creating their own Web3 games. With the overarching goal of securing Web3’s potential major driver in the future of game creation and as a method of elevating player engagement, ownership, and monetisation, the team has already started on its quest to becoming a leader in the Web3 market.
Geeshan Willink, Founder of Nefta, said: “Play Ventures has one of the best portfolios in the world for gaming and Web3. Receiving one of the largest investments from its Future Fund demonstrates their conviction in our team, products and vision. With their support, we’re able to power the next evolution of game economies, showcasing the benefits of blockchain to help our partners build, grow and scale Web3 ecosystems.”
Kenrick Drijkoningen, GP of Play Ventures, said “We’ve seen outstanding progress from Nefta since their inception in 2022. They’ve grown at a rapid pace, and their Web3 end-to-end building and scaling platform has already generated huge industry interest. Nefta was a natural investment choice for us, and their tool box will be an invaluable support to other members within the Play Ventures community.”
Since its founding in 2022, Nefta has entered into a range of partnerships which include blockchain gaming studios MoonGaming, VIKER and GAMI, with the company claiming many more to come throughout 2023.
Although largely geared towards the gaming industry, Nefta’s tech stack has attracted the attention of companies in the music, festival, beauty, and other sectors looking to scale their Web3 strategies.
Nefta claims that its new advertising technology makes use of Web3’s inherent privacy to protect user data and public blockchain data to help marketers and publishers find the relevant audiences and improve ad revenue.