Blockchain gaming studio N3TWORK Studios has raised $46 million in a Series A funding round led by Griffin Gaming Partners.
N3TWORK Bags $46 Million From Investors
The investment round also saw participation from industry investors including Kleiner Perkins, Galaxy Interactive, KIP, Floodgate, and LLL Capital.
Launched in January, N3TWORK seeks to provide blockchain games that feature play-to-earn, free-to-play, and Web 3.0 elements. The gaming studio will use fresh capital to accelerate the development of its upcoming Web 3.0 games.
“We’re a group of passionate veteran game makers who see a generational opportunity to leverage our expertise building and operating free-to-play games to create authentic web3 experiences that can reach audiences of millions of players. “We believe in a future where game economies are more open and players own the assets they earn and purchase. Reaching that future will require both expanding the core crypto gaming audience and demonstrating to the massive mobile free-to-play audience that web3 is a clear value-add to their gaming experience,” said Matt Ricchetti, President of N3TWORK Studios.
Commenting on the development, Peter Levin, Managing Director of Griffin Gaming Partners, noted that Web 3.0 is a “paradigm shift and will be a massive games market expander.”
Alongside Griffin’s financial commitments, Levin will join the board of directors of N3TWORK to accelerate its development.
N3TWORK Joins Web 3.0 with New Games
N3TWORK’s first two free-to-play games titled “Legendary: Heroes Unchained” and “Triumph” will mark the company’s entrance into the Web 3.0 market.
While Legendary: Heroes Unchained is a play-to-earn (P2E) role-playing game (RPG), Triumph is a real-time multiplayer RPG that combines free-to-play and web3 mechanisms.
Meanwhile, blockchain games are disrupting the gaming industry as P2E games allow users to earn passive income while having fun.