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

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Indrani bose Follow

INDIA

May, 20 2022

May, 20 2022

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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.

 

 


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Indrani bose

CBW - External Analyst

INDIA

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