Blockchain gaming startup Fracture Labs raises $3.5 million in the latest funding round.
The gaming studio is best known for their anticipated 3rd person survival role-playing game Decimated.
The company attracted investment form over a dozen VCs, including Alameda Research, Huobi Ventures, Spartan Group, Mechanism, Forward Analytic, and public listed company Cryptology AG. Other participating funds are Metavest Capital, Israel Blockchain Association, Cointelligence Fund, and Gravity Finance.
Fracture Labs plans to use the new funding to further game development, as well as debut an NFT marketplace that will precede the 2022 release of the title. The new funding brings the total fundraise for the gaming startup at $8 million.
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Set in a dystopian post-apocalyptic future, Decimated is an open world survival game with a blockchain-based economy. In-game items, vehicles, and structures are all minted on the blockchain, meaning they persist within the game unless scrapped or destroyed.
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The in-game currency, DIO has a fixed supply of one billion tokens, and cannot be created or destroyed. Adding an entirely new gaming aspect, DIO can be purchased on real-world exchanges, thus having a fluctuating price (and value) based on real-world supply and demand.
Decimated won the Best Blockchain Game award at the 2019 Crypto Games Conference, and was awarded an Epic MegaGrant from Unreal Engine.
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Initially bootstrapped, the studio introduced a private token sale last month with a target of $4 million. They received over $30 million in offers.