More Money for Blockchain Gaming: Planetarium Labs Scoops $32 Million in Series A Funding
Blockchain gaming is getting more traction and money as Planetarium Labs conducts a super successful Series A funding round.
Table of contents:
- Juiced up: Planetarium Labs gets a $32 million money injection
- Animoca Brands is cementing its authority in blockchain gaming
Juiced up: Planetarium Labs gets a $32 million money injection
Blockchain gaming is on the march as more and more studios are finally getting proper funding that will enable them to develop truly disruptive products. Planetarium Labs is a shining example of a thriving firm as it managed to secure a hefty $32 million as the result of the very first round of funding (Series A). What’s also important is that the monies mostly came from the highly regarded industry players, namely Animoca Brands, Samsung Next, and WeMade, all of which have shown keen interest in blockchain gaming and the application of NFTs.
Shortly after the completion of the round, Planetarium Labs came out with the announcement about the ongoing development of a unique gaming environment that’s being built on the foundation of the Libplanet blockchain technology. This solution allows users to get deeply immersed in an innovative gaming network while also granting some governance rights regarding open-source content development.
The company has also revealed plans to multiply and improve the available instruments for community-centered game development and the governance model where players will have a decisive voice. Planetarium Labs declared that its primary focus lies with the decentralization aspects of the Libplanet ecosystem, including a special fund for devs and players as well as a variety of community help initiatives.
Animoca Brands is cementing its authority in blockchain gaming
The acquired funds will also play a key role in establishing a broad business network throughout Asia. This network is supposed to include Krust Universe, which is an investment arm of South Korean tech giant Kakao, along with WeMade, a thriving developer of play-to-earn games, best known for being the creator of the K-fantasy MMORPG called MIR4 which runs on the WeMix blockchain gaming platform. The head of Animoca Brands, Yat Siu, expressed his strong belief that an open metaverse will be home to huge-scale decentralized worlds which they will develop jointly with Planetarium Labs.
‘We are delighted to support Planetarium Labs’ vision of community-centric blockchain games that empower players with creative freedom and full digital rights.’
Animoca Brands stood at the roots of blockchain gaming, back when it was only a dim concept without much of a user base. Now, it has a stake in such widely recognized projects as The Sandbox and Axie Infinity, the popularity of which took this innovative type of gaming to the masses. The firm has also acquired the development studio Eden Games which stood behind the Test Drive series and Gear.Club, both dedicated to racing. With such elevated interest, there’s hardly any doubt that blockchain gaming will survive this bear market and become one of the drivers of the next bullish one.