Funding

Web3 Gaming Company Planetarium Labs Raised $32M Funding by Animoca Brands

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Jul 15, 2022

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South Korean-based startup Planetarium labs a community-based web3 startup raised $32 Million in series A funding  Led-by the Animoca Brands. Other investors in this round involve Samsung Next, Krust Universe,  publisher of the play-to-earn game Mir4  We made, and investment arm Kakao ventures.

“The company is planning to build out its network with tools for gaming and  player governance.” Co-founder and CEO Kijun Seo told coindesk in a mail.

Planetarium Labs started is an open source, community-driven web3 company focusing on creating a gaming environment that enables open source content creation and community and user participation in the game network. 

It is a gaming system based on LIbplanet, a software development kit that helps developers create a blockchain application on a unity game development platform. The firm is collaborating with game developers in the Asian-pacific to provide community-focused projects. 

To encourage growth, the company is planning to concentrate on enhancing the Libplanet environment for decentralized gaming and initiating an ecosystem fund and community assistance schemes.

Hong Kong-based game investing firm Animoca Brands recently reported that its investment portfolio as of the end of April was valued at more than $1.5 billion across 340 investments.

“ We strongly believed that the future is a massive decentralized world in an open metaverse, that’s why we are delighted to support planetarium labs’ vision of community-centric blockchain games that empower players with creative freedom and full digital rights” yat siu co-founder and executive chairman of Animoca Brands said in the press release.

 Kijun Seo, Co-founder and CEO shared

“Instead of one network sharing multiple games, each game runs its application on the specific blockchain network and it has the freedom to design its governance and customize tokenomics, such as allowing earn-to-play,” CEO Seo said.

The libplanet technology was used in the open-source online role-playing game nine chronicles, which has 300, 000+ users and is backed by Animoca brands, Binance Labs, and Ubisoft. Nine chronicles will be launching “Chapter 3” updating with a slate of new features, including staking programs and player championships.

Planetarium Labs is supporting the development of live-action collectible NFT (Non-fungible token) RPG Stella fantasy, which had major gameplay with XL games founded by jake song, the creator of the famed lineage franchise and the co-founder of Nexon to explore community-governed MMORPGs, referring to massively multiplayer online-playing games.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
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