To develop and market blockchain games, Network Studios has received $46 million in Series A funding.
Griffin Gaming Partners led the financing round, which also included Kleiner Perkins, Galaxy Interactive, KIP, Floodgate, LLL Capital, and N3TWORK, Inc. The funds will be used to launch Network’s first two web3 games, Legendary: Heroes Unchained and Triumph.
Legendary: Heroes Unchained will be a “crypto native title,” meaning it will be a play-and-earn RPG. Triumph, on the other hand, is being marketed as a real-time multiplayer RPG with a “combination of free-to-play and web3” appeal.
Network was founded in January 2022 by veterans with experience producing and sustaining live service titles from businesses such as EA, Zynga, Warner Brothers, and Disney.
The startup intends to broaden the audience for crypto games by providing experiences that demonstrate how web3 would help “players of all types.” Network will collaborate with Forte, a blockchain technology solutions business, to achieve this purpose.
“We see a future in which gaming economies are more open and users own the assets they earn and purchase,” Network Studios President Matt Ricchetti stated.
“To get there, we’ll have to expand both the core crypto gaming audience and show the large mobile free-to-play population that web3 is an obvious value-add to their gaming experience.”