Crypto gaming developer PiP World raises $10 million in seed round months after buying Roblox stock simulator

Web3 gaming developer PiP World announced it has raised capital to help it build out its educational-focused ecosystem, which currently includes a Roblox stock simulator and a Telegram-based game.

Dubai-based PiP World said it raised $10 million from the similarly UAE-based fintech Exinity, according to a statement.

Aspiring to become the "Duolingo of crypto," PiP World says it's focused on mixing "engaging gameplay with personalized learning" as it develops its gaming portfolio. In August, PiP World acquired the Roblox-based stock simulator called StockRise. Then last month, the company launched the Telegram-based game Gold Rush. By the end of the year PiP World aims to launch a blockchain-based mobile game the firm is calling PiP Trader.

PiP World's team told The Block that, eventually, they hope to incentivize players of its Roblox and Telegram games to try the mobile game. The company's efforts to provide games with an educational tilt come as Telegram games like Hamster Kombat, Catizen and Notcoin have added millions of new users to the web3 gaming space.

The ease of signing up and accessing the free-to-play Telegram games, coupled with the promise of earning money through token airdrops, has meant that a large percentage of the users playing these games hail from lesser-developed economies. PiP World appears to believe it can provide value to those consumers.

"We’re excited to join forces with Exinity as we advance our mission to transform the way people learn about financial markets," PiP World CEO Saad Naja said in a statement. "This investment will enable us to expand our offerings and reach more users globally, particularly in the emerging markets where financial tools and knowledge are scarce."