Metatheory, a blockchain and virtual worlds development company founded by Kevin Lin, has raised $24 million in a Series A led by a16z. The company aims to build games and experiences that will appeal to a diverse audience.
Kevin Lin co-founded company
Kevin Lin is an experienced digital community founder and co-founder of Metatheory, a new NFTs company. He has previously founded the DuskBreakers NFT collection. The company is following in the footsteps of other successful NFTs, including Epic Games. In April 2022, the company raised $1 billion from Sony.
Kevin Lin co-founded Metatheory, a technology-driven entertainment company building Web3 games and virtual worlds. The company has a team of highly experienced serial entrepreneurs, including David Barthwell, JT Gleason, and Bernie Su. It is focused on building franchises and building Web3 games and is led by Kevin Lin.
It’s a blockchain game company
Kevin Lin, co-founder of Twitch, has started a blockchain game company called Metatheory. The company has raised $24 million, with a focus on creating high-quality games for virtual worlds. The team is currently working on a new game called DuskBreakers, which will involve players using non-fungible tokens in game purchases.
Lin is an experienced founder with previous experience in building digital communities, and has created the popular DuskBreakers NFT series. The company is following in the footsteps of Epic Games, which recently raised $1 billion in a series of funding from Sony.
DuskBreakers is a sci-fi game with blockchain technology and a futuristic setting. The game features an alternate universe in which humans and machines coexist. Players must complete missions in order to collect rare life-changing materials.
Kevin Lin is a serial entrepreneur with a track record of success in the entertainment industry. The company’s Series A round was led by Andreesen Horowitz, with participation from FTX Ventures and Pantera Capital. Lin and his team are focused on creating web3 games and franchises with strong IP. The team also includes Twitch co-founder Kevin Lin and three-time Emmy award-winning producer JT Gleason.
Currently, the company is working on a mini-game called DuskBreakers. The game was launched in December last year and quickly sold out 10,000 Genesis DuskBreakers NFTs within six days. Though Metatheory hasn’t revealed the P2E mechanics, it is planning to release additional games and NFT drops in the future. By Q4 of this year, the company hopes to release a full free-to-play game with Play-and-Earn mechanics.
It’s focused on building web 3 games
A technology-driven gaming startup founded by Twitch co-founder Kevin Lin has raised $24 million in a new funding round. The company, which focuses on building virtual worlds and Web3 games, received the investment from Andreessen Horowitz, Pantera Capital, FTX Ventures, and Recharge Thematic Ventures.
The company is now looking for partners to fund the duskBreakers series of games. The company launched the game’s demo mini-game in December last year and sold out the first 10,000 Genesis DuskBreakers NFTs in less than six days. The developer hasn’t shared details on its P2E mechanics, but the game is about exploring a mysterious alien ship named Dusk.
Lin has seen a lot of resistance to NFTs from traditional gaming circles, but he says NFTs can solve the ownership problem that is so problematic in games. He believes that NFTs will be crucial to the future of the digital economy and metaverse. Web3 gaming is a value-exchange concept, allowing players to buy and sell in-game items. Web3 gaming is also an open-source platform, giving game developers self-sovereignty and decentralization.
Metatheory is a tech-driven gaming and entertainment company focused on building Web3 games and virtual worlds. The company was founded by Kevin Lin, who has a history of building successful software companies, such as Twitch. In addition to Lin, the company also has David Barthwell and JT Gleason as co-founders. The company has 42 employees working on the development of its games. Currently, the company has released one franchise, DuskBreakers, with two minigames in development.
Previously, Geersart worked at Twitch as a Lead Illustrator. Now, he has launched a sci-fi game, DuskBreakers, which uses blockchain to create a “metaverse.” The game has a global launch, selling out more than ten thousand NFTs within six days.
It’s led by a16z
Metatheory, a technology-driven entertainment company founded in 2012 by Twitch co-founder Kevin Lin, has closed a $24 million Series A funding round. Pantera Capital and FTX Ventures also participated in the round. The company plans to use the funds to develop blockchain-based games.
The team at Metatheory is focused on creating Web3 games and virtual worlds with blockchain elements. The investment group led by a16z, which also invests in Web3 gaming projects, led the round. Other investors included FTX Ventures, Breyer Capital, Recharge Thematic Ventures, and Merit Circle.
The company has a team of industry veterans with deep experience in creating strong IPs and developing digital communities. The team aims to apply blockchain technology to multiple media categories and improve customer experience. In addition, it is focused on building franchises and strong IPs.
Andreessen Horowitz led the round, with cryptocurrency firms Pantera Capital and FTX Ventures participating as investors. Metatheory, which launched in the third quarter last year, is focused on building web 3 games and virtual worlds imagined across innovative new story franchise intellectual properties.
“I think the idea of ownership in the digital economy, in the digital world, especially as we emerge into whatever the metaverse might be, is going to mean that blockchain is important technology. Ownership is very important technology and so, to me, it is inevitable,” Lin said. “What I saw around me since I started tracking it in January last year, I invested in Axie Infinity in January 2021. And I realized the ecosystem is so confusing from an end-user perspective. But given the inevitability of gaming and blockchain, I wanted to build something there.”
Metatheory is leveraging the gaming space as its first creative canvas into the web 3 world, with a heavy focus on building franchises with strong IP that live beyond the games themselves.