Atmos Labs Secures $11 Million Funding to Develop its Metaverse

Atmos Labs has raised $11 million to support its objective of building a Metaverse with a thrilling gaming experience for users.

Jun 15, 2022
by Michael
Atmos Labs Secures $11 Million Funding to Develop its Metaverse
News

Atmos Labs has announced that it has raised $11 million in a seed funding round led by NFT Investor, Sfermion, with participation from British hedge fund billionaire Alan Howard, Animoca Brands, Collab+Currency, FBG Capital, GSR, CoinGecko Ventures and Avocado Guild, among several others. 

The play-to-earn Metaverse will provide an environment for players to own their gear, teams, identities and moments. In addition, players will be exposed to a wide range of top-quality experiences, and they stand a chance of receiving impressive rewards.

Founder and CEO of Atmos Labs, Kevin Beauregard, commented:

"Atmos will deliver AAA-quality competitive gameplay and rich narratives that today are not very present in metaverse gaming. We will deliver the promise of play-and-earn as opposed to play-to-earn. The game always comes first, with web3 technologies powering players and enabling economic layers.”

According to Beauregard, the first game in its Metaverse will be ExoGP which will be a Formula 1-styled game where players compete with each other on race tracks, and winners will be rewarded with prizes. The game design will consist of three main player activities, which include: mining (resource gathering), fabricating (crafting) and competing (initially flight racing).

Concerning the NFTs, Beauregard commented:

"Exos can be staked to mine land with variable mineral distributions to generate resources that players can use to modify and upgrade their composition and capabilities."

​​The funding will be instrumental in achieving these gaming objectives, as the team plans to expand to onboard a large number of gamers. Meanwhile, the founder noted that the group received such a  level of funding due to its stacked team of high-profile names such as Dylan Bushnell, son of Atari founder Nolan Bushnell and VP of product Todd Moffett among others.

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