N3TWORK Studios, Blockchain Gaming Developer Closes $46M Financing Led by Griffin Gaming

According to a report, N3TWORK Studios raised $46 Million in Series-A funding round, led by Griffin Gaming Partners. Participation also came from Kleiner Perkins and Galaxy Interactive. press release.

This raise will help in the production and development of the studio’s first two Web 3 titles: Legendary: Heroes Unchained & Triumph. Both of these titles will be focused on the use of Web 3 and cryptocurrency.
Interest in blockchain-based games has increased more than 2,000% in the past year. The first quarter of 2018 saw the gaming industry raise $3.5 billion. More than half of this was due to blockchain gaming, according to a report. report by DDM Data and Research Services.
“We believe in a future where game economies are more open and players own the assets they earn and purchase,” said N3TWORK Studios President Matt Ricchetti. “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.”
N3TWORK Studios, which includes former employees of EA and Zynga as well as Warner Brothers, Disney and Disney veterans, was established in January 2022.
Get latest news from African Startup ecosystem

Latest stories

You might also like...