The metatheory, a Web3 gaming and entertainment company, raised $24 million in a funding round led by Andreesen Horowitz, with participation from Pantera Capital, FTX Ventures, Dragonfly Capital and others.
Founded by Twitch co-founder Kevin Lin, Metatheory is currently developing its flagship project, DuskBreakers, a sci-fi franchise with two minigames. The project uses NFT, unique blockchain-based tokens that demonstrate ownership of digital assets. In this case, NFTs grant ownership of DuskBreakers characters.
“After stepping away from Twitch to explore the next steps in the industry, I truly believe blockchain will open the door to even more possibilities and have a major impact on gaming, storytelling, and community building,” Lin said in a statement.
Lin is the CEO of Metatheory and he enlisted a few ex-Twitch staffers to help him start his company Web3. Former Twitch developer relations manager and engineer JT Gleason is Metatheory’s CTO, and VP of Community and Marketing Jason Maestas comes from Twitch’s influencer marketing team.
And Metatheory Chief Content Officer Bernie Su and Narrative Designer Jen Enfield-Kane come from the Twitch exclusive Artificial Next, a live interactive show about artificial intelligence that ran for four seasons.
Unlike most blockchain games, which are only playable through a web browser, Metatheory has its own game launcher, giving players the choice of experiencing DuskBreakers through a browser or natively through the game launcher on their computers instead. .
DuskBreakers is currently developing its main play-and-earn blockchain game, which is expected to release in the third quarter of this year.
Of the 10,000 Ethereum NFTs from DuskBreakers, which currently have a floor price – or minimum purchase price – of 0.22 ETH ($440), only nine NFTs are considered”cannon” to the lore of the DuskBreakers game so far, which means that no other is currently part of the main lore and story of the game. In December, NFTs sold out within a week after Metatheory has launched a “play mintThe DuskBreakers mini-game called “The Recruit Simulator”, where users could play to earn a DuskBreakers genesis NFT.
But DuskBreakers’ lore is likely to expand beyond its NFT collection and two minigames very soon, as Metatheory is currently hiring a comic artist to adapt the game and its intellectual property into an online graphic novel. The DuskBreakers team is also planning a second NFT collection, 3D profile picture avatars, merch and events in addition to its upcoming play and win Game.
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