The web3 artificial intelligence gaming firm PlayAI has emerged from stealth and announced $4.3 million in seed funding, bringing its total valuation to $70 million.
P2 Ventures, Jump Crypto, Alphawave, Zentry, MH Ventures, Tykhe Block Ventures and angel investors previously backed PlayAI. The firm intends to use the fresh financing to grow its team, in addition to launching stream-to-earn campaigns for gamers and moving towards launching the platform's incentivized testnet.
"Artificial intelligence is the future of gaming and virtual worlds, but the cost and complexity of development has long been a major roadblock to adoption,” said PlayAI CEO Ramees in a statement.
PlayAI launched a platform where users can share and earn from their gameplay data called Collective. Ramees added that holders of the firm's Play Collective NFT, launching today, will recieve exclusive rewards. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space.