CryptoKitties raises US$12 million in financing

Axiom Zen, a venture creation studio, raised $12 million in financing for CryptoKitties, the world’s first game built on the Ethereum network. Andreessen Horowitz and Union Square Ventures led the funding round, with participation from other investors including Coinbase Inc. founder Fred Ehrsam, AngelList Chief Executive Naval Ravikant and Zynga founder Mark Pincus among others. CryptoKitties will be spun out from Axiom Zen and the team will use the funding to potentially expand upon its Ethereum ERC #721 to create additional game experiences that further the goal of making blockchain technology accessible to everyday consumers. Fasken advised CryptoKitties on all aspects of the transaction.