Blockchain Gaming Studio Cometh raises $10M in Seed Funding
French blockchain gaming studio Cometh enables its users to own yield-generating NFTs by integrating DeFi and NFTs into a single gaming experience.
Cometh is dedicated to building blockchain-based games that can seamlessly connect with DeFi protocols allowing them to include a suite of crypto-based financial tools. It also creates white label products to assist established gaming companies in implementing cryptocurrency functionality. Raised capital in the seed round will be used for the further development of future Cometh games and the deployment of its blockchain software suite in the videogame industry.
The seed round was led by venture capital firm White Star Capital, gaming giant Ubisoft and DeFi group Stake Capital with participation from Serena Capital, Shima Capital and IDEO Colab Ventures.
In addition to the funding round, the Paris-based gaming studio has released its second title, Cometh Battle. According to the company, its first game which was built on Polygon amassed over 10,000 players. Cometh has also offered its technology to assist brands in showcasing NFTs. Artist Helena Hauss, for example, will use Cometh to exhibit her work at the Venice Biennale.
Cometh’s founder Jerome de Tychey said :
“Gaming is entering a new era of mass connectivity and digital ownership of playable assets. Our team builds games that explore the new possibilities offered by blockchain technology along with the tools to enhance traditional games with it.”
White Star Capital is a global venture capital fund and multi-stage technology investment platform. The VC recently closed DAF II, its second digital asset fund, to invest in crypto-networks and early-stage blockchain-enabled Web3 businesses, with a focus on DeFi and Gaming.
Sep Alavi, the general partner of White Star Capital, said :
“Today gaming touches many verticals including social media, e-commerce, entertainment and DeFi, Cometh is building a true end-to-end gaming platform powering the next generation of P2E [play-to-earn] games.”