Quick take:
- Planetarium Labs has completed a $32 million Series A round led by Animoca Brands.
- The fundraising also attracted participation from Krust Universe, Wemade, and Samsung Next.
- The company is laying the groundwork for a Web3 gaming ecosystem governed by the community.
Planetarium Labs has announced the successful fundraising of $32 million to kickstart the development of its web3 gaming ecosystem governed by the community. The Series A round was led by Animoca Brands with participation from Krust Universe, Wemade, and Samsung Next.
The company is building an open-source ecosystem for decentralised web3 games on Libplanet blockchain technology, allowing players to participate in the game network.
Liplanet is also the underlying technology for the popular roleplaying game Nine Chronicles, an online open-source game running on its own blockchain, which has garnered a huge community of over 300,000 players.
Nine Chronicles also received backing from Planetarium’s lead investor Animoca Brands, along with Binance Labs and Ubisoft, among others.
Planetarium Labs will also benefit from the invaluable experience it will receive from Krust Universe, the investment arm of South Korean technology giant Kakao, and Wemade, the global publisher of play-to-earn MMORPG MIR4 on the WEMIX platform.
Commenting on the fundraising, Yat Siu, co-founder and executive chairman of Animoca Brands 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.”
Animoca Brands is one of the leading investment companies in Web3 gaming, having made major acquisitions to grow its portfolio this year. Its metaverse game platform The Sandbox has also partnered with several blockchain gaming companies to increase its product offering.
In a recent report, Animoca revealed that its total assets under management reached $1.5 billion, spread across 340 projects.
Jaesuk Kim and Kijun Seo, Co-CEOs of Planetarium Labs think that the gaming industry is moving towards a future of shared participation with the community playing a key role in content and governance.
“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,” they said.
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