Samreen Ahmad · · 1 min readAnimoca Brands leads $32m round of Web3 gaming firm
Blockchain gaming unicorn Animoca Brands has led a US$32 million round in Planetarium Labs, a community-driven Web3 gaming startup. The series A raise was joined by Krust Universe, WeMade, and Samsung Next.
Animoca Brands CEO Yat Siu / Photo credit: EJInsight
Animoca Brands recently led funding rounds in companies such as content production service Gusto Collective, gaming studio Untamed Planet, and social commerce firm Our Happy Company. The Hong Kong-based unicorn is currently valued at US$5.8 billion.
South Korea-based Planetarium Labs is building a gaming ecosystem based on the Libplanet blockchain, which allows players to participate in the game network and enables the community to develop open-source content.
Planetarium Labs is also partnering with game studios in the Asia-Pacific region to launch multiple community-driven initiatives.
The funds raised will be used to build out fundamental tools for community-driven gaming as well as to develop studios focused on delivering Web3 gaming experiences.
The company also plans to focus on improving the Libplanet ecosystem for decentralized gaming and introduce several initiatives like ecosystem fund and community support programs to drive growth.
See also: Animoca’s meteoric rise from zombie to $5b Web3 empire
Editing by Miguel Cordon and Lorenzo Kyle Subido
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