DOGAMI, the Paris-based developers of a Web3 pet simulator with NFT tokens that allow players to adopt virtual canines, is announcing an extended $14 million seed round.
The company has closed on a $7 million extension led by pan-European tech VC XAnge, with participation from French public investment bank Bpifrance, Singapore-based Blockchain Founders Fund, Wagram Capital and other family offices.
DOGAMI's catalogue of 24,000 NFT-driven (and pretty adorable) dog avatars and accessories is winning the hearts of 200,000 dog lovers, the company claims.
Players are rewarded for attending to their Dogami each day - like a Tamagochi, for those old enough to remember, but with much better graphics.
Coincidentally 30 is the average age across the community for DOGAMI's debut mobile game, Doga House. Affectionately dubbed the "Dogamers", these users hail from more than 80 different countries.
Caring for the virtual pets involves more than feeding and stroking; DOGAMI vows to continuously evolve the gaming experience with new accessories, augmented reality, mini-games and even dog contests.
In the startup's "soft" launch phase early this year, DOGAMI conducted weekly airdrops of its bespoke crypto token - the $DOGA. The token buys exclusive access to a virtual pet and generates crypto winnings depending on how the customer treats their canine.
The new funds are expected to let DOGAMI build out its Web3 offering, with further products designed for the "mainstream audience". In 2023, the startup is promising to let Dogamers breed up to 100,000 "unique" Dogami NFTs. And DOGAMI also expects to launch its second virtual mobile game product.
The initial $6 million seed tranche came in January 2022 and was backed the French games publisher Ubisoft, as well as blockchain games publisher Animoca Brands and the co-founders of metaverse creation tool The Sandbox, Draper Goren Holm, Tezos, GSR and unnamed additional investors. DOGAMI doesn't say where the other $3 million came from.
Alexis du Peloux, partner at XAnge, said: "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.”