Quick take:
- Vulcan Forged has raised $8 million in a Series A round led by SkyBridge Capital.
- The web3 venture capital firm has the option to invest an additional $33 million.
- Vulcan Forged said it will use the funds to accelerate the development of its patented metaverse-as-a-service engine that also offers NFTs.
Vulcan Forged has announced the successful fundraising of $8 million in a round led by SkyBridge Capital. The alternative asset investment company will also have the option to invest an additional $33 million in the blockchain game developer and incubator.
According to the announcement, Vulcan Forged will use the funds to accelerate the development of its patented metaverse-as-a-service engine, MetaScapes. The funds will also drive the company’s growth strategy including expansion in North America and key markets.
Vulcan Forged latest product launch, MetaScapes also comes hot on the heels of the success achieved in gaming projects like VulcanVerse, Forge Arena and Berserk. The new engine will allow users to design and build their own metaverse land, much like the service offered by Epic Games’ leading web2 game developer platform Unreal Engine.
However, in MetaScapes’ case, users will also be able to store data in a non-fungible token (NFT), the company wrote in a press release on Wednesday.
Vulcan Forged sees its innovative metaverse-as-a-service engine as a powerful tool that will empower “gamers to create their own metaverses with the click of a button and experience the power of creating virtual worlds without any coding required.”
The company expects MetaScapes to compete with Microsoft’s leading free-to-use gameplay and developer platform Minecraft once launched.
“Vulcan Forged has experienced rapid organic growth over the last two years—having expanded from two employees to over 130 and attracting over 200,000 users across 15 games and dApps without outside capital,” said Jamie Thomson, Founder and CEO of Vulcan Forged.
SkyBridge’s stake in Vulcan Forged is part of a broader strategy of investing in the burgeoning web3 gaming and metaverse space. The venture capital firm will help scale Vulcan Forged’s operations in North America through both talent and capital.
Anthony Scaramucci, Founder and Managing Partner at SkyBridge Capital lauded Vulcan Forged commitment to building a strong metaverse community making it one of the top 10 metaverse projects.
“Vulcan Forged and their MetaScapes engine are well-positioned to completely disrupt the legacy gaming and entertainment industries and we are excited to help take them to the next level, ” added Scaramucci.
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