Exciting news for Web3 gamers and crypto enthusiasts! Imagine a world where you can adopt, nurture, and build a bond with a virtual pet that’s not just any pet, but a Dogami – a unique digital dog from outer space! Well, that world is becoming more real as Dogami, the innovative Web3 game centered around these adorable NFT dogs, has just secured a significant boost in funding.
Dogami Snags $7 Million in Seed Extension: What’s the Hype?
Dogami, known for its engaging metaverse where users can adopt and care for 3D dog NFTs, has successfully raised $7 million in a seed extension round. This injection of capital is set to fuel their ambitious plans for growth and expansion within the rapidly evolving Web3 gaming landscape.
This latest funding round was spearheaded by European venture capital firm XAnge, demonstrating strong investor confidence in Dogami’s vision. The round also saw participation from prominent investors including:
According to Dogami’s CEO and co-founder, Max Stoeckl, this equity round concluded in November, adding to the $6 million raised earlier in the year. This brings Dogami’s total funding to an impressive $14 million! Previous investors like Ubisoft, Animoca Brands, Tezos, and GSR also contributed to the initial funding, highlighting the broad appeal and potential of Dogami.
Investor Confidence: More Than Just Puppy Love?
Stoeckl emphasized the rigorous due diligence process undertaken by these investors, stating, “There was a lot of research. I believe we went through two months of commercial and legal due diligence. These investors flipped every stone upside down, and it’s also a positive indicator of credibility for us.”
This thorough scrutiny and subsequent investment underscore the strong belief in Dogami’s concept and its potential to make waves in the Web3 gaming world. It’s not just about virtual puppies; it’s about a robust ecosystem and a compelling vision for the future of digital pet ownership and engagement.
What Exactly is Dogami? Unpacking the Metaverse of Digital Dogs
Launched in mid-2022, Dogami offers users a unique experience: purchasing NFTs of 3D dogs, which they can then adopt and nurture within the Dogami metaverse. Imagine Tamagotchi meets blockchain technology, but with a rich, evolving narrative!
In the first quarter of 2023 alone, Dogami distributed a whopping 12,000 dog NFTs, demonstrating the early enthusiasm and demand for these digital companions.
But these aren’t just any digital dogs. As Stoeckl explains, “Dogami are not ordinary dogs; they are from outer space and have come to Earth for a specific reason. They must locate the human with whom they will join, and once they have this magical relationship, they will regain their memories and recall their history and where they came from.”
This intriguing backstory, crafted by a veteran Marvel writer, sets Dogami apart and provides a rich foundation for future expansions, potentially into comic books, movies, and other media formats. It’s not just a game; it’s a universe waiting to unfold.
DOGA House: Your Mobile Gateway to the Dogami Universe
Dogami recently launched DOGA House, a mobile game accessible on iOS and Android devices exclusively for Dogami NFT holders. This mobile extension allows players to interact with their digital dogs on the go, further deepening the engagement and utility of their NFT assets.
Interestingly, the average Dogami player is around 30 years old, suggesting a broad appeal that extends beyond typical gaming demographics.
DOGA Token: Powering the Dogami Economy
The Dogami universe is powered by its native cryptocurrency, DOGA. This token is essential for various in-game activities, including:
- Purchasing and selling Dogami NFTs.
- Acquiring accessories for your digital dogs.
- Participating in special events within the metaverse.
Currently, the DOGA token is trading around $0.0147, down from its all-time high of $0.41 in March 2023. However, Dogami is actively working to increase the token’s accessibility and utility.
Future Plans: Exchange Listings and Metaverse Expansion
A portion of the newly raised funds will be strategically allocated to listing the DOGA cryptocurrency on more exchanges. Stoeckl revealed, “We already have two listings this week, Bittrex and Bitmart. Right now, we’re talking to a couple additional top 10 exchanges, for which we’ll also require some funding.”
Expanding the availability of DOGA tokens on major exchanges can significantly increase liquidity and accessibility for a wider audience, potentially driving further adoption of the Dogami ecosystem.
While currently built on the Tezos blockchain, Dogami is also exploring future possibilities, including wrapped tokens on other blockchains and cross-chain transactions. This forward-thinking approach demonstrates their commitment to interoperability and reaching a broader Web3 audience.
Partnerships and Product Development: What’s Next for Dogami?
Dogami has already demonstrated its ambition through partnerships, such as the collaboration with fashion giant GAP earlier this year to offer branded merchandise to gamers. Stoeckl hinted at more collaborations on the horizon, stating that the Dogami team is considering introducing two new agreements with businesses next year.
Product development remains a core focus, with the majority of the new funding earmarked for enhancing the gaming world and introducing new animations. This continuous development is crucial for keeping the Dogami metaverse engaging and attracting new users.
With the current funding, Dogami anticipates a runway of approximately 21 months, providing ample time to execute their ambitious roadmap.
Investor Perspective: Bpifrance’s Enthusiasm
Guillaume Simonaire, principal at Bpifrance, expressed strong support for Dogami, stating, “Bpifrance is delighted to support Dogami, an emblematic player in the Web3 ecosystem, in its next stage of development. In less than a year, the teams have built a powerful and committed community of over 200,000 people, paving the way for a global IP. With the release of the mobile game in early December, NFT owners will be able to experience the full power and functionality of their virtual pet.”
The Future is Digital and Dog-gone Fun!
Dogami’s successful seed extension round signifies a significant step forward for the Web3 gaming space. With a compelling concept, strong investor backing, a growing community, and ambitious plans for expansion, Dogami is poised to become a major player in the metaverse of digital pets. Keep an eye on this innovative project as they continue to build out their universe of adorable, space-faring Dogami!
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.