Planetarium Labs Has Raised $32 Million in a Series A Funding Round
In a Series A funding round that was led by Animoca Brands, Planetarium Labs raised $32 million. Also participating in the funding round were WeMade, Krust Universe, and Samsung Next. The funding will go towards creating the groundwork for new community-powered and governed Web3 games.
Planetarium Labs wants to be a pioneer in open-source and decentralized blockchain games. The company is creating a gaming system that uses the Libplanet blockchain technology. The company wants to enable players to join its game network and be a major part of open-source content development.
The Libplanet blockchain already hosts the open-source online RPG Nine Chronicles which runs wholly on the blockchain. Animoca Labs is also one of Nine Chronicles supporters while also leading Planetarium Labs’ funding round. Animoca Brands has been all over the place lately, particularly in Web3 projects. It is also working with some of the top brands such as WWE, The Walking Dead, and Disney.
The company says it is happy to support Planetarium Labs’ vision of creating community-centric games that can empower players with both creative freedoms and full digital rights.
A number of game studios from the Asia-Pacific region are also partnering with Planetarium Labs hoping to replicate the success of Nine Chronicles. These studios are planning to launch several community-driven gaming initiatives in 2022.
A Collaborative Effort
This multi-studio tie-up is part of Planetarium Labs’ greater and extensive partnership quest in Asia. Others in the network include the game publisher WeMade and Krust Universe, which is the investment arm of South Korean internet company Kakao.
Apart from its successful conclusion of the latest funding round, Planetarium Labs has also taken the first steps towards the development of tools. The company wants to invest in building the fundamental tools that will be needed for community-driven gaming and player governance. These tools will also help the key studios to provide increasingly sophisticated Web3 experiences.
Planetarium Labs wants to focus its efforts on the continuous improvement of the Libplanet ecosystem for decentralized gaming. It also wants to launch several initiatives such as an ecosystem fund along with community support programs.
Source: Venture Beat