San Fransisco-based company Metatheory will concentrate on creating high-quality games while implementing non-fungible tokens (NFTs).
On May 17, the co-founder of Twitch and the head of the technology-driven entertainment company Metatheory Kevin Lin secured $24M in Series A fundraising. Also, companies such as FTX Ventures, Pantera Capital, and others participated in the fund piloted by the venture capital firm Andreessen Horowitz.
According to the official statement, Metatheory continues to use the gaming sphere as an entry into Web3 while at the same time emphasizing the importance of creating series that have a powerful intellectual property. The CEO of Metatheory added:
“At Metatheory, we’ve built a team of industry vets who are focused on embracing blockchain across multiple media categories with a focus on elevating standards of customer experience and shared ownership.”
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The head of FTX Ventures implied:
"Kevin Lin is one of the most experienced founders in creating digital communities and has done so already with the DuskBreakers NFT collection. We’re thrilled to support him in taking the project to the next stage as a live game."
DuskBreakers was the first Metatheory's Sci-Fi-inspired metaverse Web3 game franchise powered by blockchain and launched in December 2021. On top of that, in less than a week, the ETH-based The Genesis DuskBreakers was released as a Play-to-Mint game which resulted in 10.000 NFTs being sold.
The entertainment industry Metatheory is also working to introduce more NFTs and content in the future, including a play-to-earn game, that is slated to premiere at the end of this year, to reward its players with digital cash or non-fungible tokens.
Metatheory is an entertainment business that focuses on building Web3 games. The company was formed back in 2021 by gaming and digital innovators, including Kevin Lin, David Barthwell, and JT Gleason.
Yesterday, the Japanese-based entertainment and video game company Square Enix also announced that the company would invest in Web3 gaming and expand NFTs into additional gaming merchandise in 2022.