Published on: 22/09/2022
Vulcan Forged raises $8M for MetaScapes, North America expansion
Blockchain gaming platform Vulcan Forged recently raised $8 million in a funding round led by SkyBridge Capital to accelerate the development of MetaScapes and expand its operations in the North American region. SkyBridge Capital additionally has the option to invest an additional $33 million.
Vulcan Forged is looking to promote the adoption of MetaScapes — its metaverse-as-a-service engine — in North America’s key regions, such as New York City, after the company’s largely successful previous product launches such as VulcanVerse, Forge Arena and Berserk.
“Vulcan Forged has experienced rapid organic growth over the last two years—having expanded from two employees to over 130 and attracting over 200,000 users across 15 games and dApps without outside capital,” said the founder and chief executive officer of Vulcan Forged, Jamie Thomson, in a press release.
“As we look to expand into new markets like North America and open our office in New York City, we believe that now is the perfect time to capitalize on our momentum with a strategic investment from Anthony Scaramucci and his team at SkyBridge Capital.”
SkyBridge Capital invested in Vulcan Forged as part of its plan to get a foothold into the emerging Web3 gaming and metaverse market, which the company believes has the potential to achieve mass adoption. Founder and managing partner at SkyBridge Capital Anthony Scaramucci expressed his praise for Vulcan Forged’s rapid growth and potential. He noted that MetaScapes could potentially change the gaming and entertainment industries.
“Jamie is a brilliant entrepreneur and has impressed me as he bootstrapped Vulcan Forged from a small startup to a top 10 metaverse project in the last two years, with a strong commitment to their growing community. Vulcan Forged and their MetaScapes engine are well-positioned to completely disrupt the legacy gaming and entertainment industries and we are excited to help take them to the next level,” said Scaramucci.
Vulcan Forged and Metascapes’ position in the market
Vulcan Forged has said that it expects MetaScapes to compete with the popular survival crafting game Minecraft which banned blockchain technology and NFTs from its platform a few months ago.
Among the key features of MetaScapes the company highlights are the player’s ability to create virtual land for free and to store data using NFTs. This allows players to create, develop and trade plots of land using the native currency of the Vulcan Forged ecosystem $PYR. The stored data also enables interoperability and supports other planned features such as coop play and VR support.
The company’s platform currently has over 10 games and 20,000 members in its community. With a large, active community and partnerships with companies such as The Sandbox, Polygon and Farcana, Vulcan Forged is looking to be a place where blockchain gaming enthusiasts can play games, access NFTs in a marketplace and enjoy a community all in one place.
“Designed as an easy-to-play and easy-to-build ecosystem, Vulcan Forged is a community-based project that promotes the development of world-class blockchain games by supporting developers through its development programs, incubation and crowdfunding,” Vulcan Forged wrote on its official website.
“We are committed to providing the best NFT Gaming experiences possible by offering engaging and entertaining games as we do our part in revolutionizing the blockchain gaming space.”