Fenwick & West represented Axiom Zen, a venture creation studio, in its $12 million 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.
CryptoKitties will be spun out from Axiom Zen and the team will use the funding to expand upon its non-fungible token ERC #721 to create additional experiences to further the goal of making blockchain technology accessible to everyday consumers. More information about Axiom Zen creation CryptoKitties’ $12 million financing can be obtained from the company announcement.
The Fenwick transaction team was led by corporate lawyers Mark Stevens, Andrew Albertson, Jordan Roberts, Victoria Wong and Noah Driggs; technology transactions lawyer Ryan Straus; and tax lawyer Will Skinner.