Online crypto casino MyPrize lands $13 million pre-launch
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It’s a jackpot kind of day today for Miami-based MyPrize, which is developing a novel type of multiplayer online casino powered by crypto.
The company just came out of stealth to announce that it has raised two funding rounds totaling $13 million, led respectively by Dragonfly and Boxcars Ventures. Additional participants to these rounds include a wide variety of Miami investors such as Arrington Capital, Pudgy Penguins CEO Luca Netz, and Blockchain.com CEO Peter Smith. Mechanism Capital, a16z Scout, and 2 Punks Capital (Marc Andreesen, Alexis Ohanian, Chris Dixon, et al.) have also secured spots on MyPrize’s cap table.
At the helm of MyPrize is founder and CEO Zach Bruch. He previously led Recur, an NFT platform that raised a $50 million Series A before closing its doors two years later, in August 2023. Bruch was an early crypto whale, working at some of the largest institutional trading desks before launching his own firm. Bruch was one of the top traders using FTX and is one of nine people chosen by the DoJ to help the FTX Creditor’s Committee recover the funds FTX’s millions of users lost. James Seibel, former CTO of Recur, is now CTO of MyPrize – and a co-founder alongside Bruch, Max Bruch, and Paul Martin.
The special sauce for MyPrize? Its multiplayer functionality.
“MyPrize takes all of the fun of the existing single player online gaming market and makes it multiplayer. We are bringing a major shift to the online social casino industry, by offering a truly immersive and community-driven experience that’s really never been possible before,” Bruch said in a statement. “With the support of our investors and our team’s commitment to rapid product innovation, MyPrize will define the future of online social gaming.”
Through MyPrize’s platform, users can play directly alongside their favorite creators, interacting and engaging with their favorite streamers and influencers alongside their friends. Its direct connection to popular platforms like Twitch provides creators another monetization stream. MyPrize’s value stems from the unification of disparate tools, as well as the openness of the platform – unlocking the best of online gaming and streaming, all in one.
“We are incredibly excited about the game-changing platform MyPrize is bringing to market, combining the best of existing platforms with the exponential growth of user generated content, brought together through the network effects of crypto,” commented Rob Hadick, General Partner at Dragonfly.
Hadick continued: “We believe the potential of this category is just starting to become clear and we are excited about the explosive growth MyPrize will enable at the intersection of iGaming, crypto, and the creator economy.”
