Avalon Corp. raises $13 million to build an interoperable digital universe
Avalon Corp., a newly formed company based in Orlando, Florida, has raised $13 million in funding from a group of investors to build a new platform for games that could one day take advantage of the metaverse. The company is founded by leaders from games including EverQuest, Call of Duty, Diablo, God of War, Assassin’s Creed, and Elden Ring, among others. According to the CEO of Avalon, Sean Pinnock, the company believes it has the unique experience among its leaders to solve the problems that creators and designers will face in the near future.
The platform being developed by Avalon Corp. is designed to be an interoperable universe, tied together through technologies such as game engines and blockchain technology. The company is not calling its own platform a “metaverse” because it believes that a single company cannot build that. Rather, it envisions a future where people will work together with tools that make it easy to build worlds and experience those dreams. Those experiences put together could create something like the metaverse.
“We have an opportunity to change the digital world and we truly believe we are the right team to ensure these changes are beneficial for both creators and players,” said Pinnock. The company is building technologies that make it easy to deploy content that it considers to be triple-A. With a set of rules that are cohesive from experience to experience, users can opt in to building content new worlds. Avalon Corp. plans to enable other creators to build worlds in its universe, but it will also build things of its own.
The funding round was led by Bitkraft Ventures, Hashed, Delphi Digital, and Mechanism Capital, with participation from Coinbase Ventures, Yield Guild Games, Merit Circle, Avocado Guild, and Morning Star Ventures. The round also included Kevin Lin, co-founder of Twitch; Charlie Songhurst, former head of corporate strategy at Microsoft; Dennis Fong, CEO of GGWP; and Robin Jung, previous CEO of Pearl Abyss.
“At Avalon Corp, we want to be the spark that will ignite the creation of the worlds that gamers have long dreamed of, with our own unique brand of proverbial glue that is equal parts experience, foresight, and imagination,” said Jeffrey Butler, Chief Product Officer at Avalon Corp. The company’s vision is to create a highly social virtual world of shared adventure and economy, and it sees its platform as the perfect system to empower those digital societies to reach beyond what we’ve seen possible so far.
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