Crypthulhu Studios raises $3 million for Dimension X blockchain game
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Game developer Crypthulhu Studios has closed a new round of funding, raising $3 million dollars. The round was led by venture capital firms Coatue and Dapper Labs. This investment will fund the launch of the studio’s first title: Dimension X.
“When we first met Mike and listened to his vision for Crypthulhu, we immediately saw the potential to bring world class gameplay to the blockchain,” said Matt Mazzeo, General Partner of Coatue, in a press release. “Mike exemplifies the kind of founder Coatue is thrilled to work with and we look forward to supporting the team as they define a new category of gaming.”
Dimension X is a new RPG based on a play-to-earn, blockchain underpinning. Using the Flow blockchain, Crypthulhu plans to create a longer-lasting, player-owned gaming experience. Once players have finished their time with the game, they can keep their experience as an NFT.
“I developed the idea for Crypthulhu when I was playing World of Warcraft and a friend asked me what I ‘owned’ in the game,” said Mike Gordon, CEO of Crypthulhu Studios. “My answer was the players, but my friend argued that I was only renting them. It was at this moment that I understood the potential of web3 for the gaming industry. As we build the Crypthulhu team, I am energized by the number of possibilities to leverage the blockchain and give dedicated players like me a meaningful stake in the games they love.”
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