Web3 entertainment firm Imaginary Ones has recently secured substantial funding in a round to accelerate the development of its web3 entertainment ecosystem.
According to a press release shared with crypto.news, the latest investment is part of an oversubscribed round to boost the company’s web3 entertainment, blending gaming, digital content, and merchandise.
“These funds will fuel our ambitious expansion plans, allowing us to scale up operations and deliver even more immersive experiences within the Imaginary World. We want to strengthen our position as a leader in web3 entertainment,” the Imaginary Ones team told crypto.news.
The web3 firm did not disclose the amount raised in the funding round.
Initially established as an IP company, Imaginary Ones gained major attention in 2022 after its NFT collection, featuring 8,888 fully animated 3D ‘bubble characters,’ sold out within just four minutes.
The firm partnered with fashion giant Hugo Boss in 2023, becoming the first Asian NFT project to partner with an international fashion brand. The project has since launched two web3 games, Bubble Rider and Bubble Rangers.
In the first quarter of this year, Imaginary Ones introduced the project’s native token, BUBBLE coin, which provides users with access to the comprehensive web3 entertainment ecosystem within Imaginary World.
The web3 firm has now broadened its scope to include content and film, propelled by the latest funding and strategic partnerships, such as one with Immutable, to develop its mobile gaming initiatives further.
Cypher Capital led the funding round, which also received backing from Polygon, Animoca Brands, K300, and Mapleblock.
Web3 venture capital firm Animoca Brands, one of the recent backers of Imaginary Ones, has entered into a strategic partnership with the Singapore-based NFT project. The collaboration aims to enhance Imaginary Ones’ tokenomics by utilizing Animoca’s extensive expertise and resources.
