Business News Report
February 09, 2023

Mobile Gaming Studio Mino Games Forays Into Web3 with $15M Series B Funding

Mobile gaming studio, Mino Games, has announced today that it has raised $15 million in a Series B round led by Standard Crypto, with participation from Boost VC, Collab+Currency, Earl Grey Capital, and Konvoy Ventures. 

Video gaming industry veterans, Bing Gordon and Don Mattrick, have also invested in the round and joined Mino Games as advisors. Previous investors include SYBO Games and Andreessen Horowitz. 

Funds will be used to accelerate the launch of Mino Game’s first web3 franchise Dimensionals. The upcoming role-playing game (RPG) with NFT in-game characters was announced via a trailer. Mino has ambitions to turn it into the next major entrant in web3 gaming.

As game developers pay up to 80% of their revenues as platform tax and user acquisition costs to big tech companies, Mino Games CEO and co-founder Sasha McKinnon wants to bring revenue back to developers, creators, and gamers.

With the launch of Dimensional approaching, the company aims to leverage web3 to build a direct relationship between developer and community to reshape distribution in the market. 

“We’re on the cusp of the next era in gaming where blockchains will power in-game economies, aligning the incentives of players with those of the game devs,” Alok Vasudev, co-founder of Standard Crypto, said in a press release. “Mino Games has a proven record in free-to-play and understands where crypto can enhance the experience for players. We are incredibly excited to work with Sasha and his inspiring team on what we believe will become a blockbuster gaming franchise.”

Coming from a free-to-play mobile gaming background, it’s no surprise that McKinnon is a proponent of the free-to-own model in web3 gaming, popularized by Limit Break’s Gabriel Leydon.

Founded in 2011 by McKinnon and his co-founder Josh Buckley, Mino Games has launched four titles centered around collectible characters. The company currently has two massively popular free-to-play flagship games in the market: Cat Game and Dog Game. The company’s games have each made millions in revenue, with players spanning over 90 countries and 60 million downloads to date.

Mino Games’ team comprises seasoned talents from major gaming companies, including Electronic Arts, Zynga, and others. As a remote-first company, Mino Games’ team is spread out throughout Asia, Europe, LatAm, and North America. The company is actively hiring and plans to expand the team by 50% by year-end.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

More articles
Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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