Published on: 28/04/2022
Playmint to develop Web3 MMOC debut game with $4M fund
Playmint, a Web3 gaming studio, recently raised $4 million in funding for its upcoming MMOC (Massively Multiplayer On-Chain) game, The Crypt. The funds will be used for the development of the game. It will be the first player vs environment (PvE) game to run completely on-chain.
The Brighton, United Kingdom-based studio has a team of developers that includes former Electronic Arts, Epic Games, and Disney employees. Bitkraft Ventures, a leading gaming investment platform, led the round with participation from 1KX, Cherry Ventures, Ethereal Ventures, and Play Ventures’ Play Future Fund.
Playmint will use the funding to scale its team of artists, game designers, and engineers so that new chapters of The Crypt can be released each month.
Innovation in web3 games
Playmint’s debut game, The Crypt, is a loot-based dungeon game constructed entirely on blockchain technology. As the world’s first PvE on-chain game, The Crypt allows players to create their own clients, bots, and even their own games, using the primitives that Playmint created.
Playmint developers said they planned to use what they’ve learned from building The Crypt chapters in its second game in the future. Politics, subterfuge, and innovative tokenomics will be part of the complex on-chain trading game. The game is an experimental project that lets the team explore possibilities for web3 gaming.
“We are committed to creating real, web3 games, not web2.5, by leveraging blockchain technology to build games the industry has never experienced before,” said Playmint CEO David Amor. “We may not know how they’ll work, what they’ll look like, or how players will interact with them, but one thing we do know is making a fun game is a necessity.”
BITKRAFT Ventures is a venture capital company specializing in gaming and web3 technology. It manages six funds, roughly $730 million in assets under management, and invests in over 90 businesses. RSTLSS, a metaverse fashion platform, is one of its recent investments.
“We believe that putting game logic on-chain will usher in a new era of innovation in game design, marked by rapid experimentation through interoperability and composability,” said Bitkraft Ventures investor Nicolas Vereecke in a statement.
“There are few teams in the industry that combine the proven ability to create fun games with a deep sense of curiosity and a willingness to do new, hard things. The games coming out of this new era will be nothing like the games that exist today and we are confident that Playmint will continue to experiment with new technologies and push boundaries to create the most engaging, immersive, and fun games web3 has to offer.”
Playmint said they aimed to create category-defining games for web3. Among its top titles are Dungeon Keeper 2, Lego Star Wars Battles, and Fall Guys.
Playmint is a growing game development studio that focuses on building category-defining web3 games.
The studio is based in Brighton. It was founded by a team of industry experts that committed themselves to discover the fun in cutting-edge blockchain technology and web3 primitives like composability.
Their deep sense of curiosity, desire to do novel, challenging things, and dedication to shipping early and often, led to the release of their world’s first on-chain co-op PvE game, The Crypt.
Playmint is also developing its second game, an on-chain trading game that features asymmetric gameplay, designed to be a benchmark for experiences in the metaverse.