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NEON Closes Successful Seed Funding Round, Raising $10.5 Million Led by Griffin Gaming Partners

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NEON, an independent game studio, has closed a successful seed funding round, raising $10.5 million USD to build the world’s first blockchain-enabled AAA first-person shooter game. Demonstrating significant interest in the project across the gaming, blockchain, and technology sectors, the oversubscribed round was led by Griffin Gaming Partners, alongside Polychain Capital and Forte. Forte will also provide technical support to the project.

Designed to reward and empower players and creators, Shrapnel will be the world’s first blockchain-enabled AAA first-person shooter game. Full details of the game are set to be announced next year.

Commenting on the raise, Mark Long, CEO at NEON, said, “When we saw the market research that players want to truly own their digital items, we knew there was a unique opportunity in blockchain. Thanks to Griffin’s investment and expertise, along with Polychain and Forte, we can bring to life a game and mod platform that I’ve dreamed of making for years. This team is inspiring to work with. We know we have the right game with the right tech at the right time.”

Spun-out from HBO Interactive, the NEON team has unmatched professional experience in transmedia, virtual production, and gaming-as-a-service. Comprised of BAFTA and Emmy award-winning game industry veterans hailing from some of the world’s leading game companies including Xbox, Electronic Arts, HBO, LucasFilm, Irrational, and Zombie Ent amongst others, NEON’s vision is to create the most immersive gaming experience ever seen in the crypto space. To support this vision, a range of blockchain and deep tech experts will support the architectural and design needs of the game.

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Pierre Planche, Partner at Griffin Gaming Partners, said, “Griffin is thrilled to be working closely with Mark and the NEON team as well as an awesome group of strategic partners. It is exciting to see a AAA games team of this caliber contribute to moving the blockchain gaming ecosystem forward with a focus on quality gameplay and long-term value. NEON is authentically leveraging some of the most exciting pillars of utility that blockchain has to offer gaming – its core game design innovates on competitive game modes, and its digital economy will directly reward and empower the community. As a long-time FPS player and prior esports competitor in the genre, I know Shrapnel is exactly the experience my peers and I can’t wait to get our hands on.”

Ben Perszyk, Partner at Polychain, said, “Polychain has long held that crypto will enable novel, unforeseen behaviors, businesses, and use cases, and we are seeing another example of that now with Shrapnel. We believe crypto assets and incentive structures will fundamentally change the way users play games, and we’re extremely excited to see the experienced team at NEON push the envelope forward on what’s possible in the crypto gaming industry by integrating crypto into a deep, immersive, AAA-style FPS experience.”

Josh Williams, CEO and Co-Founder of Forte, said, “Experienced game developers like the NEON team know that core gameplay and engagement mechanics are crucial for staying power. They are committed to creating sustainable blockchain ecosystems by putting game design and user experience first and we are honored they’ve chosen Forte to help them bring their vision to life.”

Full details of the game and a trailer are set to be released in early 2022. As development ramps up, NEON is currently hiring for its Seattle-based team. Game developers looking to join a best in class team at the vanguard of a new era in gaming can reach out to [email protected].

Future updates will be found at  www.shrapnel.com

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Blockchain

Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches

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Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.

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Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.

Source: shakirabrasil.info

The post Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches appeared first on HIPTHER Alerts.

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Italy Ramps Up Crypto Oversight in Line with MiCA

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Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.

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This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.

Source: coinfomania.com

The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.

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1inch Network Teams Up with Blockaid for Shield API

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1inch Network has collaborated with Blockaid to introduce the 1inch Shield API, a pioneering advancement in Web3 security. This collaboration aims to enhance user protection within decentralized finance (DeFi) by bolstering defenses against fraudulent tokens. Blockaid, renowned for its expertise in Web3 security solutions, utilizes advanced data analytics and machine learning to swiftly identify and flag scam tokens, safeguarding users from potential financial risks.

The 1inch Shield API also addresses compliance with Anti-Money Laundering (AML) regulations through continuous screenings of blockchain addresses. Powered by TRM Labs, this feature scrutinizes addresses for associations with sanctioned entities and illicit activities, preemptively restricting suspect addresses to prevent regulatory infractions.

Additionally, 1inch integrates Etherscan Pro’s blocklisting capabilities to proactively blacklist suspicious addresses, further fortifying its security measures.

This initiative marks a significant milestone in DeFi security, promising unparalleled levels of security and compliance. As 1inch continues to deploy this technology across its platform, it aims to provide developers and users with enhanced protection and confidence in navigating the Web3 landscape.

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Source: cryptotimes.io

The post 1inch Network Teams Up with Blockaid for Shield API appeared first on HIPTHER Alerts.

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