Quick Take
- Shrapnel raises $19.5M in latest funding led by Griffin Gaming Partners.
- Funds will speed development of its AAA, moddable extraction shooter.
- Marketplace and player-creation tools to roll out alongside upcoming launches.
Neon Machine, the Seattle-based studio behind the blockchain FPS Shrapnel, has raised $19.5 million across two funding rounds, with the latest led by Gala Games and joined by Griffin Gaming Partners and Polychain Capital. The funding will accelerate development ahead of the game’s global rollout and its debut in China.
The expansion into China is made possible through Shrapnel’s integration with the Trusted Copyright Chain (TCC), the country’s national blockchain for licensed digital assets. This setup enables regulated NFT trading in renminbi, cross-chain bridging, and access to a market of over 600 million gamers. The studio recently migrated from Avalanche to GalaChain to facilitate this connection, citing lower fees, faster transactions, and native cross-border tools.
As part of the strategy, Shrapnel may allocate up to 10% of China-based revenue for SHRAP token buybacks on GalaChain, depending on market conditions. Public playtests will continue ahead of closed access in China later in 2025, with open access scheduled for early 2026.
Shrapnel is a free-to-play, extraction-based FPS where teams compete to secure Sigma, a valuable in-game resource, while leveraging player-owned NFTs for weapons, gear, and cosmetics. The title aims to merge tactical gameplay with true digital ownership, positioning itself as one of the most ambitious projects in crypto gaming.
