As DOGAMI completes its $14 million seed funding round, the company gets a $7 million seed extension from European tech investor XAnge. This is the second funding round. Previously, DOGAMI raised $6 million from several leaders in the industry.
After the initial development, DOGAMI created and sold 12,000 NFTs. Over the last year, the firm has built dedicated communities of dog lovers with 20,000 members.
Quick Take:
- DOGAMI is celebrating $14 million in funding with an additional $7 million, which they will get later.
- The company has recently released the DOGA House, a special mobile application available only to the DOGAMI NFT owners.
- With this funding, DOGAMI will bring out more Web3 games and applications.
The $7 million seed extension was led by Berlin and Paris-based VC firm XAnge, with participation from Bpifrance, a French public investment bank, Blockchain Founders Fund, Wagram Capital, and other family offices. DOGAM raised the initial $6 million in January 2022 from industry leaders such as Ubisoft, Animoca Brands, The Sandbox co-founders, Draper Goren Holm, Tezos, GSR, and many more strategic investors.
Related Content: GamerPay Pushes Toward NFT Games Going Mainstream
Riding on the success of In-House Projects
One of the first developers of DOGAMI includes a mobile application, DOGA House. 40 people are responsible for creating the application and today more than 70% of the users engage with the application. Plus, with the application users can communicate with NFT virtual companions.
They can walk, feed, pet, and play with their dogs within the DOGAMI world. Moreover, the application also allows users to exchange $DOGA cryptocurrency through the application.
DOGAMI has avatars and in the coming months, the development team will use the new funding to bring improvements here. Talking of avatars, the users can also use the $DOGA cryptocurrency to buy and sell the NFT avatars.
Moreover, they can also trade and exchange other in-game items and accessories. Going ahead, the same cryptocurrency can get the users physical clothes, merchandise, and event tickets.
12,000 NFTs, 15 Breeds, and More are Coming
At present, the DOGAMI world has 12,000 unique virtual NFTs companions. These NFTs have four different rarities and at present, 15 dog breeds have become a part of the NFT collection. Furthermore, in 2023, new breeds will be released by the DOGAMI team.
In addition to this, going forward, the users can also breed new virtual companions. Furthermore, the team is expecting the community to breed 100,000 unique NFTs.
With reference to the developments, the CEO of the company says that the team is working hard to achieve its goals and create a scalable entertainment experience for the community. With this, DOGAMI wants to be at the forefront of the industry.
Subscribe to the NFT Lately newsletter to receive news covering the latest NFT drops, releases, reviews and more.
