Metatheory Raises $24M for Series A Funding

$24m Series A funding was provided to Metatheory, a San Francisco, CA technology-driven entertainment company.

Andreessen Horowitz led the round, along with participation from FTX Ventures and Breyer Capital.

Metatheory, founded by Twitch founder Kevin Lin, focuses on building Web3 games as well as virtual worlds that are imagined through new story franchise IPs. Its first game franchise DuskBreakers released in December 2021. The world art was created by Geersart, the former Lead Illustrator at Twitch. This is a sci-fi-inspired metaverse and gaming experience that uses blockchain. DuskBreakers launched with a free-to-play “Play-to-Mint” game that led to a sellout of 10,000 NFTS (the Genesis DuskBreakers) in six days. The genesis NFTs each represent one of the first 10,000 recruited “Breakers” who spend their days exploring a massive, dormant alien spaceship – “The Dusk” – hovering above the earth. On the Dusk, Breakers seek valuable “Duskite” materials while fending off the extraterrestrial creatures roaming the ship. The Breakers’ choices as a group will alter the course of history in an exciting alternate universe. This alternate universe is based on NFTs, comics and animations.

In January 2022, Metatheory released DuskBreakers second free-to-play minigame, “Beast Battler,” centered around boss battling in the same environment as the first minigame. Additional NFT drops, games and other content will be released throughout the year. A full free-to play game with Play-and Earn mechanics is scheduled to launch in Q4.

Art Director Darren Geers, COO Adam Bao and VP of Game Development Nick Fotheringam are the founding members. Bernie Su, a three-time Emmy nominee, serves as Chief Content Officer. This 40+ strong team includes industry veterans such as writers, producers and game developers, as well as engineers and community developers.

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