N3twork Studios raises $46M to make web 3 games
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N3twork Studios has raised $46 million in funding to make high-quality blockchain games.
Griffin Gaming Partners led the round with participation from Kleiner Perkins, Galaxy Interactive, KIP, Floodgate, LLL Capital, and N3twork Inc.
As part of the financing, Griffin Gaming Partners’ Peter Levin will join the board of directors for the studio, which spun out of N3twork Inc. as Forte acquired N3twork Inc.
The funding will help further the development and launch of the studio’s first two blockchain games, Legendary: Heroes Unchained and Triumph.
“We’re a group of passionate veteran game makers who see a generational opportunity to leverage our expertise building and operating free-to-play games to create authentic web3 experiences that can reach audiences of millions of players,” Matt Ricchetti, president of N3twork Studios, in a statement. “We believe in a future where game economies are more open and players own the assets they earn and purchase. Reaching that future will require both expanding the core crypto gaming audience and demonstrating to the massive mobile free-to-play audience that web3 is a clear value-add to their gaming experience.”
N3twork Studios was formed in January 2022 from the games team of N3twork Inc., after Forte’s acquisition of the N3twork platform. The team is made up of more than 60 industry veterans — from companies including EA, Kabam, Zynga, Glu, GREE, Scopely, Machine Zone, Warner Brothers and Disney — who have built and operated many successful live service titles.
N3twork Studios will employ its experience in free-to-play games as a key advantage to change the scale of audience impact.
Read more on venturebeat.com
