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Planetarium Labs has raised $32 million in a Series A funding round led by Animoca Brands.
The funds will be used to aid Planetarium Labs in building its community-driven Web3 game network.
The investment round included participation of Samsung Next and Planetarium partners Krust Universe, the investment arm of South Korean tech giant Kakao, and the publisher of play-to-earn game Mir4, WeMade.
The Planetarium Labs gaming system runs on Libplanet, a software development kit that allows developers to create blockchain applications on the Unity game development platform.
Co-founder and CEO Kijun Seo, commented:
“Instead of multiple games sharing a single network, each game runs its application-specific blockchain network and has the freedom to design its governance and customize tokenomics, such as enabling free-to-play. Afterwards, the players and the gaming community can operate a decentralized network powering each game.”
Noting that his company will announce new titles later this quarter, Seo added:
“Planetarium Labs is also supporting the development of live-action collectible NFT (non-fungible token) RPG Stella Fantasy, which had a major gameplay trailer reveal this week. We have recently signed a partnership with XL Games founded by Jake Song, the creator of the famed Lineage franchise and the co-founder of Nexon to explore community-governed MMORPGs”.
Yat Siu, co-founder and chairman of Animoca Brands with an investment portfolio of over $1.5 billion, said:
“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.”