On May 31, 2022, Utopia Labs raised $23 million in a Series A funding round

Utopia Labs raised $23 million in a Series A funding round by Yield Guild Games, Coinbase Ventures, WOO Network, Kindred Ventures, Distributed Global, Circle Ventures, ParagonsDAO, GCR, IndiGG, Derek Hsue, Alexis Gauba, Manasi Vora, Jason Choi, Anton Bukov, Cuy Sheffield, Tyson Battistella, Scott Fitsimones, Infinity Ventures Crypto, Patrick Rivera, John Palmer, Dariya Khojasteh, Darryl Wang, Jon Hillis, Bhaumik Patel, Gaby Goldberg, Spice Capital, Marc Bhargava, Chainforest, Tasha Kim, Sarah Drinkwater, Isidoros Passadis, Jbeezy, Patti Hauseman, Alexander Zhang, Alec Taggart, Anirudh Pai, Hootan Rashidifard, Greg Egan, Shreyas Hariharan, Austin Green, Mason Vollum, Shweta Kayal, Tyler Kraus, Todd White, Simon Judd, Sarang Parikh, Mario Lopes, Jason Kim, Nikita Kolmogorov, Hart Lambur, Michael Zinaman, Georgios Vlachos, Larry Sukernik, Jacob Horne, PARADIGM, Bernard Chan, Jordan Momtazi, Fourth Revolution Capital, Jonathan Allen, Gusto, Cowa, Lonis Hamaili (DeWork), Anjney Midha (Discord), Micheal and Jack (Redacted Cartel and New Order), Max Fiege (FIAT DAO), Stefano and Hohmward Bound (Mont Virtua), Neel Popat (Donut App), Andre Iguodala (Golden State Warriors and GP Mastery Ventures), David Faktoki (Golden State Warriors), Matz (Cryptex Finance), and others.