DOGAMÍ, a Web3 game featuring companion pets, raised $7M in a seed funding round led by Berlin and Paris-based VC firm XAnge. The investment round also included Bpifrance, a French investment bank, Wagram Capital, and Blockchain Founders Fund.
The $7M seed funding follows an initial round of $6M that took place in January 2022 in which Ubisoft, Animoca Brands, The Sandbox co-founders, Draper Goren Holm, Tezos, GSR, and other strategic investors backed DOGAMÍ. The game company secured a total of $14M in funding with these rounds.
Following the seed funding, Max Stöckl, Co-founder and CEO of DOGAMÍ, said, “With DOGAMÍ, we aspire to lead the industry in developing a scalable entertainment experience that transcends the Web3 space. We believe that our approach of combining an engaged community, compelling storytelling and true digital ownership is a crucial pillar of our early successes and we continue to capitalize on that. We are particularly happy to receive support from highly legitimate European investors like XAnge and Bpifrance which is an important signal for the Web3 gaming space as a whole.”
DOGAMÍ used the initial funding to release NFT collection, build a community, and develop mobile app.
The initial investment had enabled DOGAMÍ to release an NFT collection that features 12,000 dog avatars and launch a mobile application that allows users to play with their virtual pets. Moreover, the game company built a community of over 200,000 members – Dogamers – in less than a year.
Guillaume Simonaire, Principal at Bpifrance, commented, “Bpifrance is delighted to support DOGAMÍ, an emblematic player in the Web3 ecosystem, in its next stage of development. This transaction is fully in line with our ambition to support and accelerate the French creative industries through our “French Touch” plan. 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. What’s next promises to be exciting!
Furthermore, the team has recently released a mobile app. It’s called DOGA House, and it enables Dogamers to discover and interact with NFT canines. DOGA House is popular among community members: 70% of eligible users play it daily. Adrien Magdelaine, Co-founder & Chief Operating Officer of DOGAMÍ, noted, “Our team has performed extremely well in developing a relatable product that appeals to a broad audience. Consequently, this enabled us to grow our community organically to more than 200,000 members who share a passion for dogs and the DOGAMÍ brand. We believe that this is a very strong foundation for the next years to come.”
The extension funding will allow DOGAMÍ to develop new games to reach mainstream audience.
Web3 games must meet the standards of high-end Web2 games to achieve mainstream adoption. The recent funding will allow DOGAMÍ to build more games and also applications that appeal to a broader audience. Alexis du Peloux, a partner at XAnge, emphasized, “As a long term investor, XAnge is glad to strengthen its support for the DOGAMÍ team. We believe that Web3 gaming is now entering a new era in which the experience should meet Web2 gaming standards. Congratulations to the whole DOGAMÍ team for aiming high on that aspect. We are looking forward to seeing the progress that will happen in 2023 onwards, especially when we reach a bull market again.”
DOGAMÍ mobile app allows gamers to raise NFT dogs and earn rewards in return.
The mobile app, which is available for both iOS and Android, allows users to feed and play with their NFT pets. As a result, they can earn $DOGA, the native cryptocurrency of the DOGAMÍ universe. Users can spend $DOGA to purchase new NFTs and accessories and also to join special events inside the DOGAMÍ universe. In the future, $DOGA will also be the payment method for buying physical clothes and tickets for live and virtual events.
DOGAMÍ aims to roll out new game features and upgrades like AR extensions, animations, mini-games, and contests. Dogamers will be able to personalize their avatars with branded accessories, as well. Kris Penseyres, Co-founder & Chief Brand Officer of the company, said, “We are excited to be developing an original intellectual property that blends world-building, unique environments, and authentic characters to create a truly immersive experience. Our brand, born in Web3, will deliver media experiences through NFTs, allowing audiences to connect with our world in new and exciting ways.”
2023 will witness new breeds and a new mobile game.
The 12,000 current pet NFTs have four rarity tiers: Bronze, Silver, Gold, and Diamond. These initial companions are divided into 15 breeds. The team will release new breeds in 2023. A new mobile game that enables Dogamers to join entertaining adventures with their pets is also among the 2023 plans.
DOGAMÍ will also introduce an innovative breeding function that will allow NFT owners to create new pets from existing ones. The gaming company anticipates the community will breed up to 100,000 unique NFTs by the end of 2023.