Quick take:
- The studio will use the funds to develop its open-world player-versus-player mech combat game, MetalCore.
- The announcement follows MetalCore’s invite-only closed beta test, with an open beta expected to follow in the coming months.
- The team has integrated artificial intelligence to ensure infinite replayability and a diverse array of engaging player scenarios.
Studio369, the Web3 gaming studio founded by a team of creatives from the likes of LucasFilm, Disney, and Activision has completed a $5 million funding round from top Web3 venture firms and technology companies.
Bitkraft Ventures, Delphi Digital, Sanctor Capital, SpartanGroup, Arrington Capital, King River Digital Assets, Amber, Auros, Zeneca, Grail, Spirit Dao, LiquidX, Aggero, FatCats, Sonic Boom Ventures, Rarestone, Cypher Capital, Cogitant Ventures, EllioTrades, and Citizen Capital all participated in the round.
The company is developing an open-world player-versus-player mech combat game, MetalCore, a massively multiplayer online game that combines the quality of a traditional video game with Web3 gaming elements.
This announcement comes following MetalCore’s recent completion of an invite-only closed beta test after three years of development. The game is expected to hit open beta within the coming months.
Commenting on the announcement, Studio369 CEO Matt Candler said in a statement: “We are excited to see that some of the most prominent companies and influencers in gaming continue to share and support our vision of MetalCore. The additional funding will help us hone and sharpen MetalCore even further to deliver the most fun, engaging, and awesome experience.”
The company plans to use the fresh capital to accelerate the development of MetalCore, including adding an AI feature that generates unique assignments, objectives, and tasks for players to ensure infinite replayability and a diverse array of gameplay scenarios.
MetalCore previously raised $15 million in a private token sale announced in March 2022. The round was led by BITKRAFT Ventures and Delphi Digital, with participation from the likes of Immutable, Sanctor Capital, Animoca, Youbi Capital, and Yield Guild Games (YGG).
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