Saturday, September 23, 2023

Hyperplay raises $12 million in funding round

On June 8, Hyperplay, a native Web3 game launcher, announced that it had closed its Series A funding round after raising $12 million from investors including co-leaders Griffin Gaming Partners and Bitcraft Ventures.

Other investors include ConsenSys, the parent company of MetaMask, Ethereal Ventures, Delphi, Game7, Mirana Ventures and Monoceros Ventures.

Hyperplay, created in November 2022 by Metamask and Game7 DAO, claims its platform addresses the challenge of Web3 game interoperability “head-on”, providing interoperability for Web3 games and allowing developers to work without being tied to centralized entities. allows for. Like Apple, Google and Steam.

The platform says it aims to enable interoperability across all Web3 games through a wallet overlay on top of the game that allows players to bring their MetaMask wallet inside native or browser-based games. According to the company, HyperPlay’s game store currently offers more than 33 Web3 titles.

“Since we announced HyperPlay last November, we have focused on building a platform that allows developers and users alike to easily navigate the world of Web3 games,” said JacobC.eth, founder of HyperPlay. allows.”

The platform markets itself as a service for both developers and users, stating that its “developer loyal” approach means that it “does not tax in-game economies, but rather on-ramping or Monetizes optional features like token exchange”.

For users, Hyperplay says it is compatible with all Ethereum Virtual Machine supported chains, allowing players to bring their wallets, tokens and non-fungible tokens (NFTs) into all native or browser games. HyperPlay’s launcher integrates a wallet overlay into the game, so users don’t need to exit the game and use a separate website for NFT transactions, the company said.

Web3 games, or blockchain games, use distributed ledger technology To provide greater transparency, security, democratization and user control over game assets.

According to a report by DappRadar, Web3 gaming will account for nearly half of all blockchain transactions in 2022. This places gaming as the fastest growing sector in the blockchain space, far ahead of decentralized finance (DeFi) and NFTs.

According to another report from DappRadar, this momentum is set to continue into 2023, with the sector seeing steady growth in the first quarter of 2023. Blockchain Games and Metaverse projects received $739 million in funding during this period.

Disclaimer: The information and/or opinions expressed in this article do not represent the views or editorial line of Cointelegraph. The information presented here should not be construed as financial advice or investment recommendation. All investments and commercial dealings involve risk and it is the responsibility of each individual to conduct appropriate research before making any investment decision.

World Nation News Desk
World Nation News Desk
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