Elixir Games, a Web3 gaming firm, has announced that it raised US$14 million in a seed funding round led by renowned gaming company Square Enix, with contributions from the Solana Foundation and Shima Capital.

The investment is set to accelerate the development of Elixir’s gaming ecosystem, which is expected to launch in the second quarter of 2024, and will facilitate the introduction of the company’s native $ELIX token.

The investment marks a significant step for Elixir Games in its mission to cultivate a decentralized gaming community that delivers unique and engaging experiences.

The company’s strategy encompasses a launchpad and incubation program designed to support Web3 game developers.

With this latest round of funding, Elixir Games’ total investment reaches US$20 million.

Square Enix’s participation in the funding round reflects the JRPG specialist’s strategic move into the Web3 gaming space, a continuation of its previously stated investment interests.

The Japanese video game giant is famed for blockbuster series such as Final Fantasy and Kingdom Hearts.

Currently, Elixir Games’ platform is home to over 130 games and has amassed a user base exceeding 500,000 registered players.