Square Enix backs $14 million seed round for web3 gaming firm Elixir Games

The web3 gaming firm Elixir Games raised $14 million in seed funding. Gaming giant Square Enix, Shima Capital and the Solana Foundation participated in this seed round.

CEO Carlos Roldan told The Block that the fresh financing brings Elixir Games' total funding raised to $20 million. Following The Round, the board of directors will remain the same. 

Elixir Games will use the funds to develop its gaming ecosystem, set to go live in the second quarter of 2024, and support the launch of the $ELIX token undergirding the firm's gaming products, among other endeavors. 

 "At Elixir Games, we're revolutionizing gaming by empowering gamers beyond the screen," Roldan said. "With our cutting-edge tech and exclusive IP, we're crafting an ecosystem where players don't just play the game — they grow with it, fund it and shape its future."

Square Enix is a Japanese video game publisher responsible for popular titles such as Final Fantasy , Dragon Quest and Kingdom Hearts. The firm brought in $1.69 billion (¥257.6 billion) in net sales in a nine-month period ending Dec. 31, 2023, according to a earnings release.

Square Enix stated last year that it would invest in web3 gaming companies, The Block previously reported.