PlaySafe ID secures $1.12 million in a pre-seed funding round

PlaySafe ID has successfully raised $1.12 million during a pre-seed funding round spearheaded by Early Game Ventures.

Hartmann Capital and Overwolf also contributed, aiming to bolster PlaySafe ID's digital identity platform for an imminent "go-for-market" launch targeting an initial 250,000 users.

The company's platform provides players with a "verified, anonymous, and game-agnostic digital ID," ensuring that a user is legitimate and has a clean track record regarding cheating and inappropriate behavior towards children.

Currently, discussions are underway with several prominent gaming platforms, with plans to publicize initial partnerships by the end of the year.

CEO Andrew Wailes of PlaySafe ID stated, "This funding empowers us to rapidly expand our exceptional team and collaborate with games committed to fairness and safety for players."

He further noted the necessity of such measures amid widespread cheating affecting player enjoyment and the Online Safety Act's new requirements for child protection in gaming, highlighting PlaySafe ID's essential role in the industry.

Cristian Munteanu, managing partner of Early Game Ventures, expressed, "We view PlaySafe ID as setting a standard of trust in gaming and other areas."

He highlighted that in an era where AI and anonymity compromise safety and fairness, PlaySafe ID reinstates integrity through identity verification. This verified identity extends across various games, platforms, and genres.

Munteanu remarked, "The broader its adoption by developers, the more beneficial it becomes for players. Ultimately, the verified identity akin to a Steam account or Xbox Live profile could become a fundamental component of the gaming ecosystem, creating a winner-takes-all scenario."