Bitkraft Ventures and Hashed have spearheaded a $10 million investment initiative for Avalon, a crypto gaming studio gearing up to unveil its flagship project—a massively multiplayer online game.

Avalon's inaugural game, also titled "Avalon," is under development by a seasoned team with backgrounds in major web2 gaming enterprises. In a strategic move, Avalon has partnered with artificial intelligence pioneers Didimo and Inworld AI to enhance the gaming experience.

Sean Pinnock, CEO and founder of Avalon, emphasized the company's commitment to delivering an immersive gameplay experience. Pinnock highlighted the integration of advanced technologies like Unreal Engine 5 and AI-assisted user-generated content systems. Furthermore, Avalon's adoption of a no-code solution aims to empower players to effortlessly create game logic.

Additionally, the forthcoming NFT collection will introduce AI-powered avatar NFTs, adding another layer of innovation to the gaming experience. Pinnock brings valuable industry experience from Electronic Arts and Microsoft to his role at Avalon.

Carlos Pereira, a partner at Bitkraft Ventures, expressed optimism about Avalon's potential to contribute to the rise of Synthetic Reality—a concept encompassing the creation and simulation of digital worlds and systems. Pereira emphasized the significance of Avalon's ability to offer vibrant, intricate, yet user-friendly user-generated content experiences, potentially revolutionizing the gaming landscape.

Avalon plans to invite players to experience the closed, early-access version of "Avalon" later this year, offering a glimpse into its immersive gaming universe.

Notable participants in the funding round include Coinbase Ventures, Spartan Capital, Foresight Ventures, LiquidX, and Momentum6, underscoring the industry's confidence in Avalon's vision and potential.