Faraway, a Miami-based blockchain startup, has closed $ 21 million The Serie A funding round to launch a live multiplayer game based on Solana.
The funding round was led by Lightspeed Venture Partners and FTX a16z with the participation of Sequoia Capital, Pantera Capital, Jump Capital and Solana. This brings the total funding raised by Faraway to $ 30 million. Amy Wu, a partner at Lightspeed Venture Partners, cited the company’s reasons for leading the second round:
“Lightspeed is looking for promising teams in the industry to bring the next 100 million users to the web3, and that’s likely to be in games. We’re still in the early days of blockchain gaming and we’re catapulting games like Faraway to the next wave of what is possible.”
Founded in July this year, Faraway aims to unlock the potential of blockchain technology to create decentralized gaming-driven gaming economies. He began this mission with Mini Royale: Nations, the first live multiplayer game launched on the Solana Network. The game can be played instantly from a web browser without the need for third-party clients, historically removing entry barriers associated with blockchain games. Alex Paley, CEO of Faraway, said of this role:
“Blockchain technology will truly unlock the potential for player-driven open economies and bring the next wave of games and virtual worlds. giving us a true voice that evolves. We are fortunate to have found such excellent partners who not only understand the potential of Web3 in many markets, but also actively promote business in this space. “
As the blockchain becomes more and more important play industry, developers want to take advantage of the benefits that technology provides. Although Ethereum has dominated the blockchain scene since its launch, third-generation networks like Solana, Cardano and Polkadot have gained ground in recent years. Now, Faraway wants to become a major contributor to the growth of the Solana Network, which has already positioned Ethereum as a major competitor.