Earn Alliance Announces $4.75M Raise, Launch of Web3 Game Platform

Earn Alliance, a game community platform, announced the close of its $4.75m seed raise to connect game developers “with genuine fans and gamers across the globe through a focus on fun versus crypto speculation.”

The alpha version of Earn Alliance’s platform is “set to launch on December 15th this year.”

This round was “co-led by CoinFund and Fabric Ventures with participation by Blockchain Coinvestors, Animoca Brands, Stake Capital, Athena Ventures, NLS Ventures, MAD World Ventures, Guild Alliance and several angel investors.”

As noted in an update shared with CI, the web3 game industry is “still just getting started.”

Currently, the industry is largely “focused on tokenomics over gamer enjoyment, resulting in lower uptake in web3 gaming.” Earn Alliance has “identified several challenges limiting web3 games, committing to partnerships with game communities and developers to reshape industry focus back to fun, whilst still exploring innovative tokenomics.”

Joseph Cooper, founder and CEO of Earn Alliance, said:

“We are dedicated to opening opportunities for gamers in web3, something very dear to me as I found my passion for engineering and entrepreneurship through online IRC communities when the internet itself was complex and lacked mass adoption in 1999. Similarly, we recognize that the web3 game industry is just beginning – involving highly experimental tokenomics and entrepreneurs exploring the challenge of building network effects. I believe the next step is mass adoption by lessening the friction of utilizing crypto assets for gamers.”

Cooper added:

“This is why we are launching a web3 game discoverability platform for gamers instead of traders. Our content will focus on the actual fun web3 games offer versus speculating on their economics to help onboard traditional gamers to web3. It’s so exciting to see the opportunities ahead.” 

On December 15th, Earn Alliance will be “launching a community platform with tools and features that will empower gamers and game developers.”

These include:

  • A highly curated list showcasing web3 games for their entertainment value rather than NFT price trends or blockchain utilities.
  • An intelligent news feed of thousands of games that can be filtered down to genre, marketplace, blockchain, publisher, etc. allowing for a better understanding of the latest trends.
  • A soulbound badge and mission system that helps onboard gamers into game communities. Badges also incentivize game discovery and introduce gamified missions to buy time for game developers to experiment with features that excite and retain their communities.
  • Over 300 community generated reviews, speculations and deep dives articles.

Alex Felix, Managing Partner at CoinFund, added:

“Supporting companies like Earn Alliance allows CoinFund to play an integral part in the safe adoption of web3 gaming assets. It’s exciting to have an opportunity to work with a company that is focused on one of the most important and often overlooked aspects of web3 gaming: FUN!.”

Ian Emerson, Associate at Fabric, added:

“Billions have been invested in web3 gaming with thousands of games expected to launch in the next few years. Game developers will need to lean into frictionless adoption for everyone and communities of gamers will need nimble access to game markets and automation for using assets at scale. Utilities include identity, achievements, discovery, content, payments, asset utilisation, distribution, and leasing/liquidity.”

Ian also mentioned:

“This is an opportunity for someone to build tooling that can facilitate orders of magnitude more transactions than we have seen to date. We believe Coop and the team at Earn Alliance, with multiple successful exits in cloud tooling, mobile gaming, and web3 infrastructure experience, are the perfect candidates to tackle this. Their traction to date with 20+ guilds and 500k+ assets validates this belief.”

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