Web3 Gaming Platform Metatheory secures $24M in Series A Round

Metatheory, a Web3 game business that integrates entertainment experiences with blockchain components, has announced that its Series A fundraising round has generated $24 million.

Kevin Lin, the startup’s CEO and a co-founder of Twitch claimed that this is a chance to build high-quality games that include blockchain technology.

VCs like A16z, who lead the funding round, actively invest in businesses such Mythical Games, Yield Guild Games and Sky Mavis, which are the producers of Axie Infinite.

Other investors include Pantera Capital, FTX Ventures and Breyer Capital.

Metatheory didn’t provide a valuation after the fundraising round. Metatheory belongs to a group that is combining gaming with blockchain and play to earn mechanics to create high quality entertainment experiences.

Lin stated that blockchain will allow for more possibilities and have a significant impact on storytelling, gaming, and community development.

The firm claims that its products will be distinguished by a team made up of veterans developers, as opposed to other less developed blockchain games. It already has 42 employees dedicated to this task. Duskbreakers, the company’s first franchise, was released with a drop of 10,000 NFTs. It sold out within a week.

NFTs can create polarization in traditional gaming circles. NFTs can lead to different corporate positions. Lin supports NFTs, as they attempt to solve the problem of ownership in these games.

Lin stated that ownership is a key concept in the digital economy and the digital world. This is especially true as we move toward whatever metaverse it may be. He did clarify, though, that the company’s primary focus will be on creating terrific, engaging games.

Web3 Gaming is a value-exchange gaming platform that allows players to own and sell in-game artifacts, and other things in the same way as unique NFTs using cryptocurrency. Web3 Gaming is an open source gaming platform that allows for self-sovereignty as well as decentralization.

Web3 gaming’s ability to integrate existing game models into metaverses and blockchain networks is another amazing feature.

Each person has their own gaming preferences. Also, Web3 proposes to improve old and prominent games by bringing them into the metaverse, where users may create avatars and trade in in-game assets and collectibles so you’re not just playing games, you are also making money in the process.

Play-to-earn games are designed to give gamers a way to earn tokens doing what they love. Metatheory is one example of a web3 platform that helps young people to find work.

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