The business is expected to improve its Libplanet ecosystem even further.
Planetarium Labs, a South Korea-based Web3 gaming company, has recently raised $32M in a Series A funding round to boost its network. The fundraiser was led by Hong Kong’s gaming company Animoca Brands and backed by Krust Universe, Kakao’s investment arm, Samsung Next, an investment group, and Wemade, a Seongman-based video game developer.
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According to the official announcement issued on July 6th, the organization will leverage the massive fund to build out its tools for gaming and player governance. On top of that, Planetarium Labs will continue boosting its software development kit Libplanet blockchain technology, providing players the opportunity to develop in-game content. Community support initiatives and an ecosystem fund are also expected to arrive in the near future.
In fact, Libplanet was also used in the world’s first decentralized fantasy MMORPG dubbed Nine Chronicles which has around 300k players and backers such as Animoca Brands, Ubisoft, and Binance Labs.
Co-CEOs of Planetarium Labs Jaesuk Kim and Kijun Seo noted that the company is looking forward to working with its potential partners, adding that a brighter future of gaming solely depends on the collaboration between the community and players. They concluded:
“We are sending our invites to creators and players to build and share their own unprecedented, decentralized gaming experiences.”
The inevitable future will be based on “massive decentralized worlds in an open metaverse,” co-founder of Animoca Brands Yat Siu mentioned while commenting on the importance of the collaboration between the two parties.
Interestingly enough, Animoca Brands is gradually dipping its toes into unfamiliar seas. For instance, earlier in June, the firm acquired 80.45% of TinyTap, an educational tech firm, to develop brand new educational content.
In other news, the gaming business appears to be receiving a lot of attention these days, with Kevin Lin-backed entertainment company Metatheory collecting $24M that will reportedly assist the firm in creating high-quality games. Likewise, VC firm Andreessen Horowitz (a16z) has also raised $600M to support Web3-driven gaming startups.
