October 7, 2021 — OP Games, a startup that enables game developers to monetize their work using Web 3.0, raised $8.6 million of seed funding.
Leading blockchain venture capital firms participated in the round, including Republic Crypto, Ascensive Assets, Morningstar Ventures, Mechanism Capital, Polygon Studios and Bitcoin.com. Additional investment came from Mentha Partners, OKex Blockdream Ventures, SevenX Ventures, GFS Ventures, Defi Alliance, Master Ventures, Kernel Ventures, ZB Capital and more.
“We welcome this hearty endorsement of the work we have done to power up the gaming landscape using Web 3.0’s superpowers: open-source and community ownership,” said the startup’s CEO and co-founder Chase Freo.
“The $150 billion gaming industry is evolving at an astonishing rate. By giving developers the tools and guidance they need, and by giving players the chance to co-create their favorite projects, we are opening up new revenue channels for the sector’s talented creators.”
OP Games is building a platform that combines non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs), working with developers to create games that they can collaborate on with their communities.
The platform will incorporate a Play-and-Earn model, a variation on a pillar of the gamefi movement. The company’s player-facing gateway is OP Arcade, where communities discover HTML5 games, compete for prizes in tournaments, and participate in a progressive crypto-economy. OP Arcade is built on the developer-friendly NEAR Protocol.
OP Games will support the creation of up to 500 games by the end of 2022, nurturing a vibrant community of creators, players and investors.
The venture, created by a team of gaming industry veterans, is launching its genesis NFT project, Arcadians, on October 19. This inaugural series of Avatars for the OP Arcade platform are built on the open-source tools created by OP Games, and are one of the pillars of the upcoming OP Games metaverse.
Full List of Investors
Ascensive Assets, Mechanism Capital, Republic, Everest Ventures, Polygon Studios, Mentha Partners, Morningstar Ventures, Defi Alliance, LD Capital, Seven X Ventures, GFS Ventures, Longhash Ventures, OKex Blockdream Ventures, 3Commas Capital, Bitcoin.com, OSAZ, Infinity Ventures Crypto, Lucid Blue Ventures, Momentum6, Double Peak, Genblock Capital, Lotus Capital, Exnetwork Capital, Kernel Ventures, ZB Capital, Master Ventures, Tenzor Ventures, Jsquare, DFG, Cyberight, Spark Capital Management, Spartan Group, Basic Capital, SpaceHD Ventures Ltd, Kerve Capital, BR Capital, 8186 Capital, JRR Group, ZMT Capital, Cointelligence, Caballeros Capital Limited, Israeli Blockchain Association, D1 Ventures, X21, Digistrats, Firefi Capital, Bitrise Capital, FT Ventures, Fundamental Labs, Eden Holdings, Newave Capital, Firex Capital, Protocol Labs, Hyperedge, GSR Ventures, Huobi Ventures, DCI Capital, DeltaHub Capital, Blockhy.pe, FBG Venture Ltd., Synaps
About OP Games
OP Games is a multi-chain gaming platform currently built on Ethereum and the NEAR Protocol. The project aims to create a new gaming ecosystem centered on community-owned games involving NFTs and DAOs. In the process of lowering barriers to ownership, OP Games aims to help developers monetize their work via patronage, Defi protocols, and play-to-earn.
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