Metatheory seeks to improve the adoption of Web 3 and blockchain technology through video games.
Metatheory, a blockchain-based video game and metaverse development company, created by one of the founders of Twitch, Kevin Lin, has announced the closing of a Series A financing round worth $24 million.
The Serie A financing round has been led by Andreessen Horowitz, Pantera Capital and FTX Ventures. Other investment firms from the crypto world have also participated, such as Breyer Capital, Merit Circle, Recharge Thematic Ventures, Dragonfly Capital Partners, Daedalus, Sfermion and Global Coin Research.
Kevin Lin, CEO of Metatheory, explained that “building immersive digital experiences has always been a passion of mine, and after stepping away from Twitch to explore what's next in the industry, I truly believe that the Blockchain will create new possibilities and have a huge impact on the gaming space, storytelling and community building.”
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Lin has also explained that Metatheory is made up of a group of developers who know the industry very well and which are focused on improving the adoption of blockchain technology across many different industries. In this regard, the company will also seek to raise industry quality standards and improve user experience as well as shared ownership dynamics.
Games as a means to revolutionize Web 3
Metatheory wants Using blockchain gaming to revolutionize the industry. In this sense, their goal is to create video games with very solid IPs that are capable of becoming cultural elements. Something similar to what we see with franchises known around the world such as Minecraft o World of Warcraft.
The brand's first game will be DuskBreakers, which was launched in December 2021, with the collaboration of artist Geersart who previously collaborated with Lin as Twitch's Lead Illustrator. For its launch, Metatheory used a “Play to Mint” system with which they managed to sell all 10.000 genesis NFTs in just 6 days.
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Each of these genesis NFTs represents a “Breaker,” heroes recruited to explore the gigantic alien ship that flies over Earth, called The Dusk. In it, the “Breakers” will have to search for “duskite,” a precious material, while feeding the strange extraterrestrial creatures that populate the ship.
Players, through their “Breakers”, will be able to make decisions that will have a irrevocable impact in the course of the game.
Additionally, the game has several alternatives. For example, in January 2022, Metatheory implemented a minigame, called “Beast Battler” that focuses on boss battles.
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