Virtually Human Studio (VHS) has raised $20 million in a Series A funding round that was led by TCG (The Chernin Group) and included venture capital firms Andreessen Horowitz and Red Beard Ventures.
The Australian company, founded in 2018, has developed a blockchain-based, virtual horse-racing game called Zed Run.
It will use the funds to expand its project and engineering teams.
Game participants can buy non-fungible tokens (NFTs) representing racehorses with differing racing and breeding characteristics.
The company has sold more than $30 million in racehorse NFTs since the product was launched in 2019.
VHS plans to develop the game so that “players can work in professions such as stable owner, race track owner, breeder, accessory designer and more,” CEO Chris Laurent said.
UPDATE (JULY 21, 12:43 UTC) Adds game description, development plans.