Quick take:
- MetaWorld Entertainment will serve as both a developer and publisher of multiple experiences and games.
- The entertainment company will offer play-and-earn games to target a massive gaming audience.
- The company plans to drive broader adoption of Web3 through brand new play-and-earn entertainment experiences.
Michael Zhang, the CEO of Firefly Games, has announced the formation of a new venture called MetaWorld Entertainment following a round of seed investments by The Sandbox, Com2uS, CRIT Ventures, and Formless Capital.
Key partners in this new metaverse entertainment company include decentralised virtual gaming world, The Sandbox, and Com2uS, a South Korean mobile and online game development/publishing company.
Zhang describes MetaWorld vision of Web3 as “the venue for entertainment in the new digital age, where audiences will play, engage, and interact with new levels of immersion. Besides leading Firefly Games, Zhang will also serve as CEO of MetaWorld.
Firefly has worked with Hollywood studios to develop mobile games based on popular IP, including DreamWorks’ Universe of Legends, Skydance’s Terminator: Dark Fate, and MGA Entertainment’s match-three mobile game LoL Surprise! Room Maker, among others. Firefly also represents the North American distribution of Asian mobile games such as My Name is MT2.
MetaWorld Entertainment will be an all-encompassing entertainment company, bringing concerts, events, and games to the global market through metaverse platforms, including The Sandbox. It will also serve as both a developer and publisher of multiple experiences and games.
“We have the advantage of leveraging great technology and our know-how of creating engaging and meaningful experiences for people. This allows us to think more from the user’s perspective: what meaningful experiences can we bring to them and what value will this give them,” Zhang commented.
With the support of key partners like Agora and their real-time audio technology. MetaWorld will also utilise the Web2 game publishing experience of its partners to target a massive gaming audience while offering blockchain games that runs on the play-and-earn model, through which players can also earn virtual currencies. Through brand new play-and-earn entertainment experiences, the company plans to drive the broader adoption of Web3.
“The Sandbox is pleased to support the entry of veteran gaming entrepreneur Michael Zhang into the metaverse by establishing his next gaming venture as a metaverse builder studio,” said Sébastien BORGET, COO and co-founder of The Sandbox. “We believe he will leverage his experience and team creativity to build fun, engaging, multiplayer games and diversified experiences on The Sandbox platform, starting with Atari games available in Alpha Season 3 and with more brand names soon to be announced.”
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