Web3 Gaming Protocol Heroic Story Raises $6M in a Round Led By Upfront Ventures

The seed round also attracted participation from Multicoin Capital and Polygon Technology and several angel investors.
Image source: heroicstory.com

Quick take: 

  • Heroic plans to use the funds to expand its team and market the live beta platform.
  • The company also plans to develop on-chain technology for its MMORPG world.
  • The $6 million seed round brings Heroic Story’s total fundraising to $7.4 million.

Heroic Story has announced a $6 million funding round led by Upfront Ventures. The fundraising also attracted participation from Multicoin Capital and Polygon Technology. 

Heroic Story is a web3 gaming protocol founded in 2019 by Y-Combinator founders Jay Rosenkrantz and his brother Scott. The collaborative, community-owned worldbuilding platform is powered by smart contracts and non-fungible tokens (NFTs).

Heroic Story’s seed round brings the total capital raised to $7.4 million. The fundraising also attracted participation from several angel investors including A16z Games Fund One founding investor Jonathan Lai, Steve Arhancet— the CEO of Team Liquid, Quantstamp’s Richard Ma, Orange DAO, George Strompolos— the founder of Fullscreen, Wolfgang Hammer— the head of film at Miramax, and Ryan and Kaz Firpo— the co-writers of Marvel’s “Eternals” film.

Heroic Story also noted previous backers of its project including Transcend Fund, Twitch co-founder Kevin Lin, as well as, Holly Liu (Kabam) and Thirdweb’s Furqan Rydhan.

The company said it will use the fresh funding to expand its talent and accelerate the promo campaign for its beta platform. Heroic Story is also looking to ramp up the development of its on-chain technology for a massively multiplayer online role-playing game (MMORPG) world governed by professional masters.

Heroic released its first game “Legends of Fortunata” in 2021. The game is now available to play through the gaming platform’s gated pass.

“The intersection of storytelling and technology has been the theme of my career, from my early years as a top online poker pro and entrepreneur to designing and directing one of the first adventure games for consumer VR,” said Jay Rosenkrantz. “At Y Combinator, Scott and I doubled down on solving problems for storytellers, the world’s most undervalued talent, and after spending the last year and a half exploring Web3, we truly believe smart contract-powered platforms will transform gaming, storytelling, and community building.”

Fortunata is a creation of Heroic Story’s in-house narrative team of novelists and screenwriters. It also received contributions from thousands of fanfiction writers and digital artists, according to the press statement released on Thursday.

Mark Suster, managing partner at Upfront Ventures commented: “We fell in love with the vision for Heroic Story because they are building authentic online RPG experiences for large, global audiences passionate about the tabletop RPG genre.”


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