Metaverse Game Studios has raised $10 million in an investment round led by blockchain gaming company Animoca Brands, crypto-focused hedge fund Pantera Capital, Solana Ventures, and metaverse investment company Everyrealm.
OKX Blockdream Ventures, Mechanism Capital, Morningstar Ventures, Huobi Ventures, Shima Capital, Ancient8, and Rainmaker also participated in the round.
Metaverse Game Studios’ first title is Angelic, which aims to be a AAA MMORPG in a sci-fi world. Its developers have previously worked on AAA games like League of Legends, Far Cry, Metro Exodus, and Halo 3.
In a statement, Pantera Capital partner Paul Veradittakit called Angelic “a much needed top-tier game product” in the blockchain gaming space.
“We've looked at many projects and can say that this is one of the few games out there that has a sophisticated enough design to be a staple of Web3 gaming for a long time to come,” Veradittakit said.
Animoca Brands co-founder Yat Siu said Angelic will “help bridge the divide between blockchain games and AAA titles.” While a number of play-to-earn blockchain games have risen in popularity—such as Axie Infinity and Splinterlands—a AAA multiplayer RPG has yet to make waves in the crypto gaming space.