Legendary Video games, a blockchain-based gaming firm, has raised $150 million in its collection C funding spherical. The spherical was led by A16z, who’s aggressively investing in these sorts of crypto initiatives. It additionally had the participation of different firms like D1 Capital, Redbird Capital, The Raine Group, in addition to from well-known cryptocurrency exchanges like Binance and FTX.
Legendary Video games Will get Unicorn Standing in Newest Funding Spherical
Legendary Video games, a blockchain gaming firm, raised $150 million in its newest funding spherical, which was led by VC firm A16z. Different backers included D1 Capital, Redbird Capital, and The Raine Group. From the cryptocurrency alternate facet, the funding spherical attracted the eye of Binance and FTX as effectively. This collection C put Legendary video games over the extent of a unicorn firm, reaching a valuation of $1.25 billion.
The rise of Legendary and different comparable gaming initiatives alerts the curiosity and validity that the market has given these new applied sciences. This funding spherical comes on the heels of Legendary Video games’ final funding spherical, which occurred 4 months in the past because it raised $75 million. Legendary Video games’ proposal is taken into account attention-grabbing as a result of it has developed an engine that permits different firms to incorporate blockchain points in video games which can be already beneath heavy growth.
The title of this instrument is the Legendary Platform, and it additionally helps the development of gaming experiences from the bottom up. Legendary Video games acknowledged that a lot of the funds acquired might be used to proceed rising its workforce and scaling it as much as carry extra developments to make use of this instrument.
A16z on a Blockchain Investing Spree
A16z, the identified enterprise capital firm, has been very energetic in placing funds behind startups concerned in the blockchain gaming business. Simply final month, A16z was concerned in the most recent funding spherical of Axie Infinity, the play-to-earn blockchain sport constructed on Ethereum. The corporate led the funding spherical, which raised $152 million and gave the sport a valuation of $three billion.
In the identical approach, Yield Guild Video games, a guild group that specializes in extracting worth from play to earn experiences, obtained a fund injection by A16z, which led its $4.6 million funding spherical final August. A16z additionally led the $100 million collection B funding spherical for Opensea, a number one NFT market on high of the Ethereum blockchain in July.
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