The Tribes


Main Hall - July 8, 2022

Animoca, WeMade, Samsung Next, Web3 company will create open-source games

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Planetarium Labs is a company that makes games for the community. Animoca Brands, Samsung Next, and WeMade have given the company $32 million in Series A funding. The money will be used to create a blockchain-based gaming environment where players can connect to the game network and give community members a voice.

The company said on Thursday that it is building a gaming environment based on Libplanet blockchain technology. This would allow players to join the game network and give users a say in how open-source content is made.

Planetarium Labs will improve the most important tools for community-driven games and player governance, and it will also make it possible for important companies to offer complex Web3 games. To get more people involved, the company plans to focus on the Libplanet environment for decentralized gaming and create a number of programs, such as an ecosystem fund and programs to help communities.

Planetarium Labs also made a lot of new connections in Asia through the cash round. These connections include Krust Universe, the investment arm of South Korean digital giant Kakao, and WeMade, a global publisher of the play-to-earn MMORPG MIR4 on the WEMIX platform. Yat Siu, who helped start Animoca Brands and is now its executive chairman, said this about the news:

“We strongly believe that the future is massive decentralized worlds in an open metaverse, which is why we are delighted to support Planetarium Labs’ vision of community-centric blockchain games that empower players with creative freedom and full digital rights.”

Animoca Brands is one of the most well-known investors in the Web3 area. The Sandbox (SAND) and Axie Infinity are two other investments (AXS). In April, the gaming and venture capital business finished its historic purchase of Eden Games, the company that makes Gear.Club, the Test Drive series, and other popular racing games.

In recent years, blockchain has been used a lot in the gaming industry, which wants to move away from the centralized models that have been the norm for a long time. Crypto gaming has become more popular as the number of gamers grows and more digital assets are collected and sold. This gives game makers a steady stream of cash and gives users something of value. Even though the market as a whole is down, game finance, or GameFi, looks strong and growing as bears take control of the crypto market and the floor values of nonfungible tokens (NFTs) fall.

Lastly, GameFi may be able to survive the tough market conditions of 2022 thanks to its great gameplay, strong in-game economies, and high level of economic flexibility. When gaming and decentralized finance come together, it opens up a whole new world of possibilities for many gamers. They can now make a living while playing high-quality, fun games.