Planetarium Labs, a community-driven gaming company, has raised $32 million in Series A funding, backed by Animoca Brands, Samsung Next, and WeMade. The funds will be used to build a blockchain-based gaming ecosystem where players can participate in the gaming network while allowing community members a seat at the table.
According to the announcement made on Thursday, the company is developing a gaming environment based on Libplanet’s blockchain technology, which allows gamers to join the gaming network while giving users a voice in code content development. open.
Planetarium Labs will invest in expanding the core tools for community-driven gaming and player governance, as well as enabling major studios to deliver sophisticated Web3 gaming experiences. The company intends to focus on the Libplanet ecosystem for decentralized gaming and establish a series of projects including an ecosystem fund and community outreach programs to encourage community participation.
The capital increase also establishes a wide network of connections for Planetarium Labs throughout Asia, including Krust Universe, the investment arm of South Korean tech giant Kakao, and WeMade, a global publisher of play-to-win MIR4 MMORPGs on the WEMIX platform. Yat Siu, Co-Founder and CEO of Animoca Brands, has commented on this fact:
“We firmly believe that the future is massive decentralized worlds in an open metaverse, so we are delighted to support Planetarium Labs’ vision of community-focused blockchain games that empower gamers with creative freedom and full digital rights.” .
Animoca Brands is one of the most active investors in the Web3 spaces. His other holdings include The Sandbox (SAND) and Axie Infinity (AXS). The venture capital and gaming company completed its landmark purchase of Eden Games, creators of the Gear.Club series, Test Drive and other popular racing games, in April.
Blockchain gaming has become a mainstream use case for the technology in recent years, as the industry looks to move away from the centralized models that have been the norm. As the number of players increases and digital assets are collected and traded, cryptocurrency games have exploded in popularity, providing a steady stream of income for game developers, while creating value for players.. Despite overall bearish market sentiments, game finance, or GameFi, appears to be resilient and developing as bears take control of the cryptocurrency market as non-fungible token (NFT) prices slide lower.
In the end, fantastic gameplay and robust in-game economies with a high degree of economic freedom can help GameFi survive the tough market conditions of 2022.. The union of gaming and decentralized finance opens up a universe of previously unimaginable possibilities for many gamers, allowing them to earn a living while playing high-quality games and entertainment.
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