Crypthulhu Studios secures $3 million for its Dimension X blockchain game
Crypthulhu Studios, a game developer, has completed a new round of investment, raising $3 million. Venture finance firms Coatue and Dapper Labs led the round. The studio will use this funding to launch Dimension X as its first game.
More about Dimension X
Dimension X is basically a new RPG with a play-to-earn blockchain foundation. Crypthulhu intends to build a longer-lasting, player-owned game experience using the Flow blockchain. Interestingly, players who have completed their time with the game can keep their experience as an NFT.
Dimension X will be Free To Play! While 10,000 FREE Generation 0 Heroes will be dropped on day 1, players without an NFT can use a small number of starting Sidekicks (account-bound heroes) to begin their journey in DMX and start earning P2E rewards in the form of the $DMX token. Anyone can mint new generative heroes, enter into community contests with a chance to win unique heroes and unlock Sidekicks through factional rewards.
The team is creating a $DMX token for the game which provides P2E rewards for skill-based gameplay and the ability to spend $DMX to mint new heroes.
Matt Mazzeo, General Partner of Coatue, in a press release said.
“When we first met Mike and listened to his vision for Crypthulhu, we immediately saw the potential to bring world class gameplay to the blockchain. Mike exemplifies the kind of founder Coatue is thrilled to work with and we look forward to supporting the team as they define a new category of gaming.”
“I developed the idea for Crypthulhu when I was playing World of Warcraft and a friend asked me what I ‘owned’ in the game,” said Mike Gordon, CEO of Crypthulhu Studios. “My answer was the players, but my friend argued that I was only renting them. It was at this moment that I understood the potential of web3 for the gaming industry. As we build the Crypthulhu team, I am energized by the number of possibilities to leverage the blockchain and give dedicated players like me a meaningful stake in the games they love.”
The initial launch of the game is scheduled for early Q3 2022.