EON Foundation Raises $5 Million to Redefine Game Publishing on Blockchain

PALO ALTO, Calif., June 7, 2018 /PRNewswire/ -- EON Foundation, a blockchain games company, announced today that it has secured $5 million in seed funding led by Cherubic Ventures, Wei Guo (partner of UpHonest Capital) and Feng Li (an early investor in Ripple and Coinbase). EON Foundation will use the funding to launch the EON Protocol, which will help developers find players at less cost, and continue building its decentralized game network, the EON Network.

"Our goal is to be the number one blockchain game publisher in the world," said Aron Lyu, EON Foundation's CEO and co-founder. "Common publishing considerations like maximizing profit or finding an audience are totally different on blockchain. We've built successful blockchain games and now we want to help other developers thrive in this emerging market."

EON Foundation has developed the EON Protocol to help developers reach more players at less cost. The EON Protocol is a publicly-accessible system of smart contracts that can be used to exchange traffic among developers and gamers. It will also help developers easily launch their games on different blockchains (Ethereum, EOS, etc).

Games that integrate EON Protocol will use EON Foundation's token, EON. They are also building a decentralized game network, the EON Network.

EON Foundation's first game, Crypto Alpaca, launched earlier this year and already has over 200,000 registrations. Crypto Alpaca is a decentralized pet-raising simulation game where you can adopt and breed alpacas. While existing crypto games are largely driven by community-assigned value based on personal aesthetic choices, Crypto Alpaca has a fiber-collection mechanic where you earn rewards based on your participation in the game. Unlike other pet simulation games, you can foster your 'pet' alpaca to increase it's real-world value.

Crypto Alpaca accepts Ethereum and the EON token. ARCat, an augmented reality pet-raising simulator launched by EON Foundation's strategic partner InnoVision, will accept the EON token as well.

"We see gaming as a big market for blockchain applications," said MK Li, a partner at UpHonest Capital. "EON Foundation has a top-tier team of game veterans and blockchain experts, and I believe in their ability to add great value to the blockchain ecosystem."

The EON Foundation also has a team of advisors from Zynga, Facebook, and USC GamePipe Lab. The EON Network will be launching in early 2019.

About EON Foundation:
The EON Foundation is a blockchain games company based in Palo Alto and Singapore. The EON Foundation is developing the EON Protocol to help blockchain game developers. The EON Foundation also created Crypto Alpaca, decentralized pet-raising simulator. They've also launched the EON token which is accepted by games like Crypto Alpaca and ARCat. learn more about EON Foundation please visit their website.

SOURCE EON Foundation