Chillchat Raises US$8.35M in Seed Rounds for a Social 'Create-to-Earn' Metaverse

SINGAPORE, June 7, 2022 (Newswire.com) - Chillchat has raised US$6.5 million through a seed token round to build out its "Create2Earn" 2D pixel art social metaverse that fosters interpersonal connections and collaboration. The seed token round was led by FTX Ventures and Crypto.com Capital. With these fresh funds, Chillchat will continue to develop its social metaverse platform where community members can easily create their own Worlds, Characters, Items and Pets, all of which can be instantly minted as NFTs.

• This pixel art social metaverse allows users to easily create games and NFT assets, including Worlds, Characters, Items and Pets, for themselves or other community members.
• Chillchat will be launching its web platform later this year for players to create new Characters, Worlds and experiences that will be accessible on https://chillchat.me. Additional features will be added in the near future.
• This will be followed by an initial DEX offering on Raydium and an initial CEX offering (details to be confirmed closer to the launch date).

Investors and Web3 leaders who participated in the seed token round include Griffin Gaming Partners, Animoca Brands, Spartan Capital, Diamond Hands Ventures, Morningstar Ventures and other noteworthy investors.

Communities and guilds who participated include Avocado Guild, GuildFi, Ancient8, SNACKCLUB, UniX Gaming, SwordFish Guild and MonkeVentures.

Brian Lee, Partner of FTX Ventures, said: "FTX is always seeking to push the crypto ecosystem forward, so when we saw how Chillchat approaches user-generated content in a fun and easy way, we saw it as a perfect opportunity to onboard the next wave of social and casual gamers into crypto."

Bobby Bao, Managing Director of Crypto.com Capital, said: "Chillchat's combination of easy-to-use tools and broad distribution platform will develop new create-to-earn opportunities for creators to make money and provide vast collections of exciting Worlds for gamers to explore."

Chillchat will launch their platform later this year, which will allow community members that hold any of the 1,500 unique Origins NFTs — the first characters released for Chillchat users — to utilize the pixel editor and create new Chillchat characters for new players. With more features continually being developed for the platform, Chillchat will have its initial DEX offering (IDO) on Raydium and initial Exchange offering (IEO) on a platform to be confirmed closer to the launch date in late 2022.

Looking ahead, Chillchat will enable real-time NFT trading with other players in the metaverse, allow players to go on adventures with their friends and Pets, create custom Tilesets that can be used to build Worlds, and more. Chillchat's users will be able to design their own Worlds to launch their own NFT stores or museums, and even use the World Engine tools to turn their Worlds into games.

James Au, Founder and CEO of Chillchat, said: "We're grateful to have so many knowledgeable partners in the crypto and gaming space to help us realize the vision of Chillchat. Being able to ping our partners and their networks for input on building team, product, onboarding, growth, and tokenomics has proven invaluable in our efforts to build a metaverse that enables our users to create and consume content at speed and scale."

On January 21, 2022, Chillchat conducted a successful NFT public sale to mint 1,000 of its 1,500 limited "Origin" characters. The handcrafted and animated Origins, that will spawn all future Chillchat characters, were sold out in seconds, at 2 SOL (~US$80) per NFT. The current floor price is at 22 SOL (~US$880) and the highest secondary-market ticket at 120 SOL (~US$4,800). The current total sales volume for Chillchat Origins is 42,856 SOL (~US$1,700,000).

Chillchat continues to auction 10 Origin NFTs every Wednesday and aims to place the remaining 350 Chillchat Origins NFTs in the hands of users — who are charged with expanding the first-generation lineage by creating new characters for the next generation, and onwards. Chillchat Origins Auctions will be held on Magic Eden.

About Chillchat

Chillchat is a casual social metaverse, a vast collection of virtual Worlds, made entirely by its players, where you can jump into adventure with a new identity created by you or another player, pixel by pixel. There is no limit to who you can be or what you can create. If you can imagine it, you can be it. Our Pixel Editor, World Builder, and the Solana blockchain power it all. Create and Mint infinite Worlds, Characters, Items, Pets and bring them to life with other players.

Website: https://chillchat.me
Twitter: https://twitter.com/chillchatme 
Discord: http://discord.gg/chillchat 
Facebook: https://web.facebook.com/Chillchatme 
Instagram: https://www.instagram.com/chillchatme 
Whitepaper: https://bit.ly/Chillchat-Whitepaper
YouTube: https://bit.ly/ChillchatYT
Media Contact: press@chillchat.me

Full Investor List

Solana Ventures, FTX Ventures, Crypto.com Capital,  Griffin Games Partners, Spartan, Diamond Hand Ventures, Big Brain Holdings, Animoca Brands, Infinity Ventures Crypto, A&T Capital, MightyJaxx, Morning Star Ventures, Double Peaks,  Old Fashioned Research, Zipmex Labs, FOMO Venture, Shima Capital, Gate.io Labs, Overwolf, MonkeVentures, Defi Capital, DAOVergence, BGVentures, Silverstone Venture Capital, Panga Ventures, Adrian Cheng, YGGSEA, Avocado Guild, GuildFi, Snackclub, Ancient 8, UNIX Gaming, SwordFish Guild, and PKO Investments (Kevin Lin, co-founder @ Twitch, Kun Gao, co-founder @ Crunchyroll, Holly Liu, co-founder @ Kabam, Patrick Lee, co-founder @ Rotten Tomatoes, Dhiraj Mukherjee, co-founder @ Shazam, James Park, co-founder @ Fitbit, Kunal Sarkar, co-founder @ Luminosity, Nigel Eccles, co-founder @ FanDuel, Ray Chan, co-founder @ 9GAG, Wesley Ng, co-founder @ Casetify, Yat Siu, co-founder @ Animoca Brands) 

Source: Chillchat