Planetarium Labs Raises $32M in Series A Funding Led by Animoca Brands
Singapore, Singapore--(Newsfile Corp. - July 7, 2022) - Community driven Web3 game company Planetarium Labs has raised a $32 million Series A funding round led by Animoca Brands and joined by Krust Universe, Wemade, and Samsung Next, laying the groundwork to lead a generation of Web3 games powered and governed by the community.
Planetarium Series A Funding
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Planetarium Labs aims to become a pioneer of open-source, decentralized blockchain games that operate on networks powered by the players. The company is building a gaming ecosystem based on Libplanet blockchain technology, which allows players to participate in the game network and gives the community a chance to play a major role in open-source content development. Libplanet played a pivotal role in Nine Chronicles, the world's first open-source online RPG running entirely on its own blockchain. Boasting a community of more than 300,000 players, Nine Chronicles has earned the support of Animoca Brands, Binance Labs, Ubisoft, and The Sandbox.
With its extensive blockchain-based ecosystem development and publishing expertise, Planetarium Labs is working closely with major game studios from the APAC region to launch multiple community driven game initiatives this year.
In addition to bringing in fresh capital, the investment round highlights the powerful and strategic backing that Planetarium Labs has attracted. Valued at over $5.8 billion, Animoca Brands is a global leader in gamification and blockchain with a robust and diverse investment portfolio, and with the mission to advance digital property rights and decentralized projects to help build the open metaverse.
The funding round also establishes an extensive partnership network for Planetarium Labs throughout Asia, including with Krust Universe, the investment arm of South Korean tech giant Kakao, and Wemade, global publisher of play-to-earn MMORPG MIR4 on the WEMIX platform.
Yat Siu, co-founder and executive chairman of Animoca Brands, said, "We strongly believe that the future is massive decentralized worlds in an open metaverse, which is why we are delighted to support Planetarium Labs' vision of community-centric blockchain games that empower players with creative freedom and full digital rights."
Planetarium Labs will allocate the infusion of funds to build out fundamental tools for community-driven gaming and player governance while enabling key studios to deliver increasingly sophisticated Web3 gaming experiences. The company plans to focus on continuously improving the Libplanet ecosystem for decentralized gaming, and introduce several initiatives like ecosystem fund and community support programs to foster participation and drive continued growth.
JC Kim and Kijun Seo, Co-CEOs of Planetarium Labs, said, "The future of gaming is moving in a direction where the players and the community collaborate on a shared vision, and we are delighted to onboard our partners to realize together our vision of games owned and shaped by the community. We are sending our invites to creators and players to build and share their own unprecedented, decentralized gaming experiences."
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About Planetarium Labs
Planetarium Labs is a community driven Web3 game company focused on delivering the future of entertainment through decentralized content and technologies. It believes that communities can create infinite possibilities through decentralized innovations and strives to empower massively multiplayer online games with creative freedom and player governance. Planetarium Labs has an integrated team of core blockchain development, game publishing, and Web3 content studio, all aligned on creating powerful synergies between technology and communities. It is working closely with major game studios from the APAC region to launch multiple community-driven game initiatives this year.
About Animoca Brands
Animoca Brands, a Deloitte Tech Fast winner and ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain, and gamification that is working to advance digital property rights and contribute to the establishment of the open metaverse. The company develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP™, and Formula E. It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, and TinyTap. Animoca Brands has a growing portfolio of more than 340 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and others. For more information visit www.animocabrands.com or follow on Twitter or Facebook.
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Krust incubates innovative startups that are building the next generation of groundbreaking technology applications. By enabling their growth and supporting their global expansion, Krust aims to contribute to the innovation of humanity.
Wemade Games is dedicated to serving gamers with a portfolio of entertaining, high-quality PC and mobile games. Established in 2000, Wemade Entertainment Co., Ltd. (KOSDAQ: 112040) is an international game developer-publisher that has grown from a handful of passionate game enthusiasts to a group of over 1,000 game pioneers.
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