Web3 gaming and entertainment company Metatheory announced a $24 million Series A Round led by capital venture firm Andreessen Horowitz


Today Web3
gaming and entertainment company Metatheory, a technology-driven entertainment
company founded by Twitch co-founder Kevin Lin announced a $24 million Series A
round led by crypto capital venture firm Andreessen Horowitz.
According to the
announcement other participating venture firms are Pantera Capital and the
venture arm of the FTX cryptocurrency exchange, FTX Ventures participating in
the round, in addition to Breyer Capital, Merit Circle, Recharge Thematic
Ventures, Dragonfly Capital Partners, Daedalus, Sfermion, and Global Coin
Research.
In Q3 last year that
is in November 2021 a San Francisco Metatheory which is CA-based
technology-driven entertainment company was launched. It is around one year
after Lin left Twitch. At the time in a Medium article he wrote that he was
creating the gaming company and also a blockchain game called DuskBreakers. The
aim was on building Web3 games and virtual worlds imagined across innovative
new story franchise IPs.
In December 2021
Metatheory released first game franchise DuskBreakers with world art designed
by Geersart, former Lead Illustrator at Twitch. A sci-fi inspired metaverse and
gaming platform powered by blockchain, called DuskBreakers. Due to the
free-to-play nature of the game, DUSTBREAKERS sold out of 10,000 non-fungible
tokens NFTS within six days. Each genesis NFT represents one of the first
10,000 recruits, breakers, who spend their days exploring a massive, dormant
alien spaceship called "The Dusk" that hovers above the earth. Along
with comics and animations, DuskBreakers is planning additional NFTs and
content at Metatheory, that includes a play-to-earn game set to launch in the
fourth quarter of 2022.
Earlier this
year, in the month of January Metatheory released the second free-to-play
minigame for DuskBreakers, "Beast Battler." The game is revolving around
boss battling in the same environment as the first minigame. Further, the
company said throughout the year and beyond, we will release new NFT drops,
games, and content, with the launch of the Play-and-Earn free-to-play game
scheduled for Q4. Metatheory is in the process of creating additional NFTs and
content for DuskBreakers, including a play-to-earn game slated for launch in
the fourth quarter of 2022.
In December 2021
Justin Kan, another co-founder of Twitch, launched the Fractal NFT marketplace
which focuses on blockchain gaming tokens saying that “NFTs are the future of
gaming.” Earlier this month, Square Enix announced plans to expand NFTs into
more of its games in 2022.

Indrani bose
CBW - External Analyst
INDIA