Israeli startup Spring Games grabs $7m seed

Spring Games, an Israeli blockchain gaming startup, has raised $7 million in seed funding.

Spring Games, an Israeli blockchain gaming startup, has raised $7 million in seed funding. The investor was Playtika.

PRESS RELEASE

Israeli startup Spring Games has closed a $7 million seed round from gaming giant Playtika (NASDAQ: PLTK) to develop NFT-powered Play-to-Earn games on blockchain infrastructure. The first game that the company has developed is in eSports, called MaxiBoom. The game offers expensive prizes to players in skill-based tournaments that run 24/7.

The company plans to convert MaxiBoom into an NFT-powered Play-to-Earn game on blockchain and develop new games on blockchain infrastructure. Since NFT (Non-Fungible Token) is a unit of data stored on blockchain, which can be sold and traded, gamers will eventually be able to earn money by grinding and ‘’mining’’ the company’s cryptocurrency, and by trading their owned NFTs.

MaxiBoom is free to play MOBA (Multiplayer Online Battle Arena) game that test the gamer’s battle skills along with millions of players around the world. Players can fight solo or conquer the arena with their most loyal teammates. The game combines various weaponry and multiple arenas. The more rivals the player takes down, the more Maxi-Coins he or she earns.

Spring Games was founded in early 2020 by CEO Idan Amir; CTO Lital Natan, a senior technologist from the games industry; CPO Dror Hollinger, who has 20 years’ experience in the industry; and CFO Dana Amir. Idan Amir is a serial entrepreneur who took part in establishing several startups, including cyber company Versafe Ltd., which was sold to F5 Networks for $95 million. Amir invested $1.5 million in Spring Games as a pre-seed investment.

According to Idan Amir, Spring Games will reach the market quickly and will issue its independent currency by mid-2022. “We’ll launch a marketplace where players will be able to buy NFT characters of the game. The first game will be based on MaxiBoom, with changes that will enable players to earn crypto and ultimately real money based on their skill and time they play the game.”

Eric Rapps, Playtika Chief Strategy Officer, noted: “We are proud to support Spring Games and the next wave of innovation and entrepreneurship in the Israeli gaming industry in general and in blockchain in particular. Idan, Lital, Dana, and Dror are a winning team. I am convinced that Spring Games will benefit from Playtika’s knowledge and experience in game management and bring to this new market the highest quality product.”

For frequently asked questions, visit https://www.springames.com/faq-2/eng