Limit Break, a company that makes Web3 MMO games, got $200 million in venture capital in two different rounds.
Limit Break said on Twitter that among the investors were Josh Buckley, who runs the mobile game company Mino Games, and the investment firms Paradigm and Standard Crypto. Some of the other market players are FTX, Coinbase, and Positive Sum.
Limit Break plans to add web3 features to games that are “free-to-play.” You can start playing a free-to-play game as soon as you download it. The game’s creators will make money from you through in-game purchases or ads. The company’s version of “free-to-play” is called “free-to-own,” and users mint free genesis non-fungible tokens (NFTs). Limit Break says, “These Genesis NFTs lead to other NFTs through airdrops and other methods, all of which are ethical ways to raise money.”
Financing for Limit Break shows that people are becoming more interested in blockchain-based mobile games, and it comes at a time when the cryptocurrency market is in generally bad shape. The Block Research says that non-fungible tokens (NFTs) and gaming deals were the most popular for the twelfth month in a row. They received nearly $500 million in funding, which was the second most in the industry after infrastructure.
The company was started by the CEO and CTO of Machine Zone, which made mobile free-to-play games like Game of War, Mobile Strike, and Final Fantasy: XV.
The Block has already reported that MetaverseGo, N3TWORK Studios, and InfiniGods aren’t the only blockchain-based mobile game companies that are raising money this year.
Leave this field empty if you're human:
