Tevaera acquires $5 million through seed funding

Tevaera, a zkSync game-building business, has acquired $5 million through seed and private funding. 

The leaders who contributed towards the funding were companies such as Laser Digital and Nomura Group. The others that followed were hashkey Capital, Fenbushi Capital, matter Labs, Draper Dragon, Crypto.com Capital, Cogitent Ventures and Faculty Group. Added were Momentum, Morningstar Ventures, DWF Labs, DCF God, Mapleblock, GBV, Selini, CoinSwitch, Aquano, GD10 Capital. 

Tevaera will be utilizing the amount to increase its list of employees and deliver a layer 3 gaming chain on zkSync to bring on board 2 million players and 12 game builders on Tevaera towards the end of 2024. This was mentioned by the co-founder of the company, Gav Negi. 

He also spoke of the fact that the climb uphill for the business had its own massive obstacles, but it was all worth it at the end of the day. The funding has become a blessing for them, providing the opportunity to create a ZK Stack boosted, all-inclusive gaming ecosystem on zkSync. 

Tevaera offers three Web3 games: Teva Run, a multiplayer racing game, and Guardian Islands, a fantasy game. It also offers a decentralised exchange and an NFT marketplace. With over 850,000 connected players and around 2.5 million utility NFTs, Tevaera claims the lead.

Tevaera has effectively launched zkSync Era, a Layer 2 protocol designed to gather and log Ethereum transactions on the mainnet. There are no knowledge proofs used. Furthermore, zkSync Era is a protocol that uses zero-knowledge proofs and is compatible with the Ethereum virtual machine (zkEVM). This is the software framework that makes it possible for different Ethereum applications. One of the tools in the ZK Stack, a blockchain-focused software stack that uses zero-knowledge proofs, is zkSync Era. 

By delivering the zkSync Era, the initial zkEVM, they visualized an all-inclusive gaming ecosystem for developing, introducing, and playing Web3 games.

Where Laser Digital is concerned, it is a digital asset business coming under the Nomura Group. It is situated in Tokyo, and is into financial solutions and banking.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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