Twitch co-founder raises $24M for Web3 gaming firm Metatheory

Web3 gaming and amusement institution Metatheory founded by Twitch Co-Founder Kevin Lin has raised $24 cardinal successful a Series A backing circular connected May 16.

The circular was led by crypto superior task steadfast Andreessen Horowitz (a16z), with information from Pantera Capital, the task limb of the FTX cryptocurrency exchange, FTX Ventures, and different task firms arsenic per the announcement.

Metatheory was launched successful November 2021 astir 1 twelvemonth aft Lin near Twitch wherever helium wrote successful a Medium nonfiction astatine the clip that helium was creating the gaming institution and besides a blockchain crippled called “DuskBreakers”. Lin was quoted successful this week’s announcement arsenic saying:

“Building immersive integer experiences has ever been a passionateness of mine, and aft stepping distant from Twitch to research what’s adjacent successful the industry, I genuinely judge blockchain volition unfastened the doorway to adjacent much possibilities and person a large interaction successful the gaming, storytelling and assemblage gathering space.”— DuskBreakers (@DuskBreakers) May 16, 2022

DuskBreakers was released successful December 2021 with the creation designed by the erstwhile pb illustrator astatine Twitch. The Ethereum-based game implemented a “play-to-mint” exemplary for its archetypal 10,000 non-fungible tokens (NFTs). Those looking to drawback an NFT person to play an arcade-type crippled to validate their introduction onto a whitelist.

The DuskBreakers squad plans to merchandise comics and animations to proceed its storyline, and further NFTs and contented are successful the works astatine Metatheory with a play-to-earn crippled acceptable for motorboat successful the 4th fourth of 2022.

Related: How blockchain games make full economies connected apical of their gameplay: Report

Lin is not the lone Twitch co-founder with an involvement successful gaming NFTs. In December 2021 Justin Kan, different co-founder of Twitch, launched the Fractal NFT marketplace which focuses connected blockchain gaming tokens saying that “NFTs are the aboriginal of gaming.”

Blockchain gaming is gaining involvement from titans of the accepted gaming industry, astir precocious Square Enix revealed successful its net study that it volition expand NFTs into much of its games successful 2022.

Microsoft’s CEO said the improvement of metaverse platforms was a cardinal crushed for the $69 cardinal acquisition of gaming elephantine Activision Blizzard and Sega is looking to integrate unreality exertion NFTs arsenic portion of its caller “Super Game” task which connects its antithetic games to each other.