White Star Capital Leads $1.5 Million Funding Round for Eyeball Games
Singaporean game developer Eyeball Games has secured $1.5 million in pre-seed funding, with leading investment from White Star Capital’s Ubisoft-backed Digital Asset Fund, according to Venturebeat. The funding round included participation from Polygon Ventures, Ocular, Immutable, Great South Gate Ventures, and angel investors.
Eyeball Games plans to use the investment to support the development and release of its blockchain-based pool game, Eyeball Pool. The game is being created by the same team that developed the immensely popular mobile title 8 Ball Pool, which has achieved over a billion downloads to date. Initial release of Eyeball Pool will be limited to online players who hold its Non-Fungible Tokens (NFTs), with a full mobile rollout scheduled for the first quarter of 2024. This release will also involve the conversion of the game’s NFTs into starter packs, offering exclusive and unique items.
Growing Success in Singapore
Singapore is rapidly emerging as a prominent hub for mobile gaming, with considerable growth in recent years. This expansion has been accelerated by the establishment of new studios in the country by influential players in the Chinese gaming sector, including MiHoYo, in order to circumvent increased regulations imposed by the Chinese government.
Furthermore, Singapore’s strategic location in the fast-growing Southeast Asian market allows its gaming companies to benefit from a region with a rising number of mobile users, as more and more people embrace mobile gaming.
“We are thrilled to have the support of prestigious investors in our first funding round,” expressed Jonathan Ivarsson, CEO of Eyeball Games. “We look forward to tapping into their expertise and assistance to create a top-tier game that offers players true asset ownership and pioneers a new approach to value creation.”
“We believe that Web3 has immense potential to enhance the gaming experience beyond what is currently possible,” stated Eddie Lee, General Partner at White Star Capital. “We are excited to partner with the Eyeball team and develop a game that will bring joy to millions of players in the future.”
Note: miHoYo was featured as one of the top 50 mobile game makers in 2022, and we will be revealing our list for 2023 in the coming months.