Planetarium Labs acquires $32 million in Series A funding round led by Animoca Brands

The developer of decentralized idle RPG Nine Chronicles will use the funding to further develop tools that help in the creation of complex community-driven blockchain titles running on Libplanet blockchain technology.

Jul 7, 2022
by Dragan
Planetarium Labs acquires $32 million in Series A funding round led by Animoca Brands
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Web3 game company Planetarium Labs, known for open-source blockchain idle RPG Nine Chronicles, has successfully acquired $32 million in a Series A funding round led by Animoca Brands.

Samsung Next, Krust Universe and Wemade, a publisher of free-to-play play-to-earn MMORPG MIR4 on the WEMIX gaming platform, all participated in the round. The press release states that the funding will be used to create the tools necessary not only for establishing player governance and community-driven gaming, but also for helping game developers develop complex crypto games. The ecosystem of Libplanet, their own blockchain technology that can be used for games made in the Unity game engine to create decentralized online games with no servers, will continue to be improved by introducing growth-enabling initiatives such as community support programs and an ecosystem fund, according to the press release.

Co-founder and executive chairman of Animoca Brands, Yat Siu, said the following:

"We strongly believe that the future is massive decentralized worlds in an open metaverse, which is why we are delighted to support Planetarium Labs' vision of community-centric blockchain games that empower players with creative freedom and full digital rights."

The blockchain-focused gaming company is planning to release a couple of “community-driven game initiatives” by working with a number of game studios that are located in the APAC (Asia-Pacific) region.

Co-CEOs of Planetarium Labs, Jaesuk Kim and Kijun Seo, commented:

"The future of gaming is moving in a direction where the players and the community collaborate on a shared vision, and we are delighted to onboard our partners to realize together our vision of games owned and shaped by the community. We are sending our invites to creators and players to build and share their own unprecedented, decentralized gaming experiences."

Nine Chronicles is their first game running on Libplanet. Described as the “world's first open-source online RPG running entirely on its own blockchain,” the title has a community comprising of over 300k players and is backed by the likes of Ubisoft, Binance Labs and The Sandbox. Last month saw the release of Chapter III: Cave of Jotunheim, a significant update to the decentralized idle RPG that aims to improve the sustainability of the game’s economy and overall enjoyment.

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