Soccerverse, the company behind the massively multiplayer online game of the same name, announced a $3.1 fundraise led by Japanese gaming giant Square-Enix on July 11.

The game, which is currently available in beta, is a blockchain-based sports simulation similar to the Football Manager series that allows users to take on various roles such as coaching a team or representing a player. It runs on the Polygon blockchain and, while free-to-play, features web3 functionality.

According to a blog post, Square-Enix led the company’s most recent funding round alongside previous backer Hiro Capital.

Soccerverse raised $44 million so far

While the numbers raised might not turn the heads of any tech moguls, Soccerverse says it’s raised $4 million so far. Involvement from Square-Enix, publishers of the Final Fantasy franchise among numerous IPs, bodes well for the fledgling startup.

Hideaki Uehara, General Manager of Investment and Business Development at Square-Enix, expressed their enthusiasm for the project in quoted commentary published in the Soccerverse blog post:

“Soccerverse stands out as the most innovative and unique game using blockchain features in the genre. We’re eager to continue our journey with it, now from the perspective of investors as well as fans.”

Timing crucial

The timing of the funding round could prove significant for Soccerverse. While the game is currently available in beta, football management sims aren’t usually considered mainstream in the gaming world.

However, towards the end of this year, Sega and Sports Interactive are slated to launch the newest entry in the Football Manager franchise. This year marks a reboot for the venerable series as it switches to the Unity game engine and presents fans with a completely overhauled experience.

If Soccerverse is able to capitalize on the hype one way or another — by offering Web3 denizens something to nerd out with alongside their old school gaming cohorts, or by offering disenfranchised mainstream gamers an alternative — it could pay dividends.

Soccerverse CEO Andy Gore touched on the company’s plans for the funds in the recent blog post:

“We are thrilled to partner with a global gaming company of Square Enix’s reputation as we drive innovation and excellence in our game. This investment will allow us to attain new levels of quality and to reach a global audience.”

Source:- COINTELEGRAPH