Shrapnel
Shrapnel is a free-to-play, blockchain-enabled first-person shooter built by Neon Machine on Unreal Engine 5, serving competitive FPS gamers and web3 gaming enthusiasts with tradable NFT in-game assets on a peer-to-peer marketplace.
- Company typePrivate
- Founded2021
- HeadquartersSeattle, United States
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What Shrapnel does
Shrapnel is a free-to-play, team-based first-person shooter developed and operated by Neon Machine, Inc., a privately held Delaware corporation headquartered in Seattle, WA. The game is set in a post-apocalyptic 2038 "Sacrifice Zone" where squads compete to collect Sigma, a meteor-born resource, in high-stakes extraction-style matches. The studio markets an AAA pedigree, claiming team experience on franchises including Call of Duty, Halo, Bioshock, Ghost of Tsushima, Forza, and Madden across EA, Xbox, PlayStation, Steam, and Epic platforms, and describes itself as BAFTA and Emmy Award-winning.
The product is built on Unreal Engine 5 and integrates blockchain technology to enable true digital ownership of in-game assets. Initially deployed on the Shrapnel Subnet (Avalanche-compatible), the game transitioned to GalaChain to support Chinese regulatory compliance and cross-border asset trading. Core offerings include the Shrapnel game client, the Shrapnel Wallet (custodial), and the Shrapnel Marketplace, where players can buy, sell, and craft NFTs including Operators, weapon skins (Common, Rare, Legendary tiers), and Skin Fragments via the Printer and Recycle Depot features. Distribution runs through Steam globally and through a localized Chinese version facilitated by the Gala Games partnership.
Monetization relies on free-to-play gameplay with revenue generated from marketplace direct sales of Game Items and Offerings, plus transaction fees on peer-to-peer NFT trades, with fee discounts available for holders/stakers of certain tokens. The customer base is composed primarily of competitive FPS gamers and web3 gaming enthusiasts, with no enterprise customer anchors. In 2025, the company raised $19.5 million led by Gala Games and became the first web3 game licensed on China's Trusted Copyright Chain, marking its principal strategic expansion vector.
Shrapnel firmographics
Firmographics- Name
- Shrapnel
- Legal name
- Neon Machine, Inc.
- Website
- https://shrapnel.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Shrapnel is a free-to-play, blockchain-enabled first-person shooter built by Neon Machine on Unreal Engine 5, serving competitive FPS gamers and web3 gaming enthusiasts with tradable NFT in-game assets on a peer-to-peer marketplace.
- Ownership category
- akta.pro rank
Shrapnel industry classification
Industry- Product category
- Web3 First-Person Shooter Game
- NAICS
- Doll, Toy, and Game Manufacturing (33993)
- SIC
- Sporting & Athletic Goods, Nec (3949)
- akta.pro primary industry
- In-Game Asset Standards & Infrastructure (NFT items, marketplaces, royalties, asset registries) (FSAPAGAE)
- akta.pro secondary industries
- Digital Game Marketplaces & Item Economies (NFT/Skins/Trading) (BPAMAKAJ), Gaming NFTs & In-Game Asset Marketplaces (FSADANAF), NFT Custody, Wallets & Asset Management (collectibles wallets, vaults, portfolio tools) (FSAPAFAF)
Keywords
Where Shrapnel is headquartered
LocationHeadquarters
- HQ city
- Seattle
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Shrapnel business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Marketplace - Direct Sales: Neon Machine sells Game Items and Offerings directly through the Shrapnel Marketplace.
- Marketplace Transaction Fees: Company charges fees on all peer-to-peer sales conducted via the Marketplace or involving Game NFTs. Fees may be calculated as a percentage of the overall sale price. Discounts on fees may be available for holders/stakers of certain Services-related tokens.
- Game NFT Ownership Rights: Players purchase Game NFTs that grant rights and privileges within Services. Players are responsible for all payments, fees, and costs including purchase price, transaction fees, and secondary sales fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free-to-play core game |
| Transaction based/ take rate | Pay-as-you-go | Game Items / NFTs |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Shrapnel product offering
Product offeringCore offering
Shrapnel is a free-to-play, team-based first-person shooter (extraction shooter) developed by Neon Machine using Unreal Engine 5 and blockchain technology. Players form squads to collect a meteor-born resource called Sigma, with true NFT-based digital ownership of in-game assets including cosmetics, weapon skins, and playable Operators. The core product is supported by the Shrapnel Wallet (custodial) and the Shrapnel Marketplace for peer-to-peer trading of game items.
Product overview
Shrapnel is a Web3-enabled AAA-quality first-person shooter developed by Neon Machine. The product ecosystem centers on the core Shrapnel game, supported by the Shrapnel Wallet (custodial digital wallet for NFT/crypto management), and the Shrapnel Marketplace (peer-to-peer trading platform for in-game assets). Players engage with cosmetic products including Weapon Skins (NFT-based weapon customizations available in Common, Rare, and Legendary tiers) and Skin Fragments (collectible components used to unlock skins). Additional features include the Printer (mystery reward crafting) and Recycle Depot (item transformation). Gala Dex represents a special launch edition collaboration with GalaChain. The game is free-to-play with true digital ownership of in-game assets, where cosmetics and Operators are tradable NFTs.
Differentiator
Problem solved
Functional benefit
Products and services
- Shrapnel Award-winning, free-to-play, team-based first-person shooter with Web3 integration. Players team up as elite Operators to collect Sigma, a powerful meteor-born resource, in high-stakes competitive extraction matches. Built on Unreal Engine 5 with blockchain-verified true item ownership.
- Shrapnel Wallet Custodial digital wallet provided by Neon Machine for storing, managing, and transacting with Game NFTs and cryptocurrency within the Shrapnel ecosystem. Supports bridging tokens to non-custodial wallets on other chains.
- Shrapnel Marketplace In-game marketplace enabling players to purchase, transfer, and trade Game Items and NFTs. Facilitates peer-to-peer sales through integrated third-party exchanges and protocols, with fee discounts available for token staking.
- Weapon Skins Cosmetic weapon customizations available in multiple rarity tiers (Common, Rare, Legendary). Each skin is an NFT compatible with specific weapons and can be traded on the marketplace.
- Skin Fragments Collectible item fragments used to unlock weapon skins. Most skins require 3 fragments to unlock. Wildcards can substitute for any single fragment. Fragments can be found in the game zone or purchased on the marketplace.
- Operators Playable character NFTs with leveling mechanics. Players unlock and select different perks to customize their Operator's combat identity and playstyle. Operators can be traded on the Shrapnel Marketplace.
Companies that use Shrapnel
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Shrapnel technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature4 records
Shrapnel partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and major.
- Gala GamescoreStrategic partnership with Gala Games for global and China expansion. The partnership includes transitioning the game's blockchain to GalaChain, supporting Chinese regulatory compliance, and facilitating cross-border asset trading. Gala Games led the $19.5M funding round.
- AvalanchecoreBlockchain platform supporting the Shrapnel ecosystem with Third-Party Wallet compatibility.
- Beijing Copyright AssociationcoreGovernment partnership enabling Shrapnel's entry as the first licensed web3 game in China. Hosted the 'Web3.0 Games and International Digital Copyright Cooperation' seminar in Beijing welcoming Shrapnel for global digital asset rights management.
- RazermajorGaming hardware company partnership for potential hardware integration and gaming ecosystem expansion.
- OverwolfmajorPlatform for building and distributing gaming apps and mods.
- Super League GamingmajorGaming entertainment company for potential tournament and event collaboration.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Shrapnel competitors and assessment
Company assessmentBroad incumbents
- Riot Games: Publisher of Valorant, a leading team-based tactical shooter. Broad incumbent competing for the same shooter audience Shrapnel targets, but without web3/NFT integration.
- Valve: Developer of Counter-Strike and operator of Steam, the platform where Shrapnel is distributed. A key distribution incumbent and FPS category leader that dwarfs Shrapnel's current player base.
- Battlestate Games (Escape from Tarkov): Developer of Escape from Tarkov, the extraction shooter that anchors the genre Shrapnel is competing in. Comparable in game loop (extraction, loot risk/reward) but without blockchain integration.
Emerging players
- Myria: Blockchain gaming platform offering an NFT marketplace and developer SDK for web3 games. Comparable as a peer in the NFT-based gaming infrastructure stack.
- Wildcard (Playful Studios): Web3-native action/arena game with NFT-based characters and items on a dedicated chain. Comparable in blending competitive action gameplay with blockchain asset ownership.
- Treasure: Decentralized web3 gaming ecosystem and marketplace connecting multiple blockchain games. Comparable as infrastructure-layer support for NFT-based game economies like Shrapnel's.
Direct peers
- Off The Grid (Gunzilla Games): Free-to-play AAA battle royale/FPS built on blockchain with NFT-based item ownership and a player-driven marketplace. The most directly comparable competitor to Shrapnel in the web3 shooter category.
- Gala Games: Web3 gaming platform and Shrapnel's lead investor and infrastructure partner, publishing multiple blockchain games. Operates GalaChain, the network Shrapnel migrated to, making it both a partner and a category peer.
- Big Time Studios: Multiplayer co-op action RPG with NFT-based items and a player-driven economy. Comparable to Shrapnel in combining AAA-quality gameplay with blockchain-based true ownership.
- Illuvium: Open-world web3 RPG with interoperable NFT assets and in-game marketplaces. Comparable as a high-production-value, blockchain-native game targeting mainstream gamers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Shrapnel social profiles
Digital presenceShrapnel financial estimates
Financial estimateRevenue estimate
Valuation estimate
Shrapnel leadership team
Management profileNumber of profiles
Profiles1 record
Shrapnel funding detail
Funding detailFunding overview
Funding rounds4 records
Investors17 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Shrapnel M&A and investment
M&A and investmentM&A
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Shrapnel
What does Shrapnel do?
Shrapnel is a free-to-play, team-based first-person shooter (extraction shooter) developed by Neon Machine using Unreal Engine 5 and blockchain technology. Players form squads to collect a meteor-born resource called Sigma, with true NFT-based digital ownership of in-game assets including cosmetics, weapon skins, and playable Operators. The core product is supported by the Shrapnel Wallet (custodial) and the Shrapnel Marketplace for peer-to-peer trading of game items.
Is Shrapnel a public or private company?
Shrapnel is a private company. It is classified as venture growth investor backed and is currently operating.
When was Shrapnel founded?
Shrapnel was founded in 2021. It employs 11 to 50 people.
Where is Shrapnel based?
Shrapnel is headquartered in Seattle, United States, in the North America region.
How does Shrapnel make money?
Three revenue lines are on record. Marketplace - Direct Sales are the primary driver. The others are marketplace Transaction Fees and game NFT Ownership Rights.
Who are Shrapnel's main competitors?
Broad incumbents on record are Riot Games, Valve and Battlestate Games (Escape from Tarkov). Emerging players are Myria, Wildcard (Playful Studios) and Treasure. Direct peers are Off The Grid (Gunzilla Games), Gala Games, Big Time Studios and Illuvium.
Does Shrapnel have an API?
No public API is recorded for Shrapnel.
What industry is Shrapnel in?
Shrapnel's product category is Web3 First-Person Shooter Game. Its primary akta.pro industry code is FSAPAGAE, In-Game Asset Standards & Infrastructure (NFT items, marketplaces, royalties, asset registries), with a secondary code of BPAMAKAJ, Digital Game Marketplaces & Item Economies (NFT/Skins/Trading). Its NAICS code is 33993 and its SIC code is 3949.