Game development studio CCP Games has raised $40 million in funding led by crypto hedge fund Andreessen Horowitz with investments from other companies, including Makers Fund, Bitkraft, Kingsway Capital, Nexon, and Hashed.
In an announcement on March 21, 2023, the Iceland-based company said the funds would be used to develop a multi-player, innovative AAA game that will be hosted on its digital gaming platform, Eve universe.
The online gaming platform was launched in May 2003 before the company was purchased by Pearl Abyss, a South Korean video game developer and creator of Black Desert, in 2018 for $425 million.
Triple A Game to be Developed Based on Research Findings
CCP Games said it would tap blockchain technology focusing on persistence, composability, and truly open third-party development to create a new relationship between virtual worlds and players.
The company further disclosed that the games would be built upon the discoveries of its research-and-development team to enable the full-scale development of the project.
According to Hilmar V. Pétursson, the chief executive officer at CCP Games, the firm founded in 1997 aims to use the public ledger to create virtual worlds that would be more beautiful than reality.
He also noted that the fundraising would help the game developer start its third-decade virtual world operations.
“This financing has marked an exciting frontier in our studio history as we begin our third decade of virtual world operations. We are humbled by the confidence from our partners in the development of this new title,” said Pétursson.
More Funding for the Web3 Ecosystem
CCP Games’ fundraiser comes the same day as tomi DAO, a decentralized autonomous organization (DAO), secured $40 million in funding to drive the adoption of its decentralized internet. The financing round was led by investment managers and market maker DWF Labs, Ticker Capital, Piha Equities, and Japanese crypto investor Hirokado Kohji.
The DAO will use the new capital to attract publishers and content creators and further development of the decentralized focused network, described as a “surveillance-free alternative” to the internet.
