Quick take:
- Argus Labs has announced a $10 million seed round led by Haun Ventures.
- The company also launched its blockchain games builder platform World Engine.
- Katie Haun’s web3 VC was joined by Robot Ventures, Anagram, Dispersion Capital, Alchemy and several angel investors.
Argus Labs has raised $10 million in a seed round led by Haun Ventures. The fundraising also attracted participation from Robot Ventures, Anagram, Dispersion Capital and Alchemy Ventures. They were joined by several angel investors including former Coinbase CTO Balaji Srinivasan, Osmosis co-founder Sunny Aggarwal, and Gitcoin’s Scott Moore, among others.
Argus Labs also announced the launch of its blockchain gaming software developer kit, the World Engine, that will enable developers to build customised web3 gaming ecosystems.
According to Argus Labs CEO Scott Sunarto, his company wants to offer more to developers than just an SDK.
“Computer games in the 1980s and ‘90s were building their engine to build their own game … I think we’re at a very similar stage in crypto gaming right now, where if you really want to build great applications for great content, you really need to have this ability to push the envelope yourself,” Sunarto told CoinDesk.
The company plans to use the fresh funding to expand its development team and build out its studio and tooling infrastructure.
This fundraising comes at a time when the web3 industry is experiencing a shortage in funding amid the bear market. However, while some investors may shy away from investing while the market is down, some are looking to seize the opportunity in readiness for a rebound.
Blockchain games remain among the most exciting options for investors looking to invest in web3, accounting for about 38% of on-chain activity, a recent DappRadar report showed.
And Breck Stodghill of Haun Ventures expects Sunarto’s Web3 gaming platform to play a crucial role in driving growth in the larger ecosystem.
Speaking to CoinDesk, the investor highlighted Sunarto’s belief that the right web3 gaming infrastructure could unlock the power of games to unite communities.
“If we can create fertile ground for game developers to have crypto as a tool, there’ll be some really interesting new games that emerge – and it’ll end up being super positive for the people who play games,” he said.
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