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 [Gordon, CEO of Crypthulhu Studios] 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.”
For more information about Dimension X, check out the game’s website over here.