Social casino MyPrize valued at $140M ahead of market debut

MyPrize $140M
Image: MyPrize

A new player is entering North America’s online casino market.

Social casino MyPrize has announced that it will make its market debut this spring as a crypto-focused gaming platform that allows users to play directly alongside their friends. MyPrize, which combines online gaming and streaming, has raised $13 million across two funding rounds giving the company an enterprise value of $140 million.

“MyPrize takes all of the fun of the existing single-player online gaming market and makes it multiplayer,” said founder and CEO Zach Bruch. “We are bringing a major shift to the online social casino industry, by offering a truly immersive and community-driven experience that’s really never been possible before.”

MyPrize offers a unique gaming experience with the ability to integrate the platform into streaming services, including Twitch, LivePeer, and Kick. The ability to integrate MyPrize into the services is designed to create more user autonomy and monetization options.

MyPrize has closed two funding rounds from an impressive portfolio of investors, including Silicon Valley VC firms that focus on investments in entertainment, tech, and crypto. The company’s funding rounds were led by DragonFly and Coincident Capital and included participation from Arrington Capital, 640 Oxford, a16z, and Mechanism Capital.

2 Punks Capital, which includes the personal capital of investor and tech entrepreneur Marc Andreessen and Reddit co-founder Alexis Ohanian, also contributed to the rounds.

In preparation for its launch, MyPrize is allowing visitors to sign up for the platform while offering a referral program that sees users accrue points. The program, if players meet a referral and points threshold, offers the chance to win a share of a $100,000 prize pool.