Core Loop raises $12 million for its blockchain-based MMO game

Core Loop will use the $12 million budget for the blockchain-based Sandbox MMO game.
Core Loop
Core Loop is getting ready to make a blockchain-based MMO game.

According to GamesBeat’s exclusive report, the new gaming company Core Loop plans to make a massively multiplayer online (MMO) sandbox game based on the blockchain. The company has received an investment of 12 million dollars on the subject.

The company was founded last year by experienced industry names Vincenzo Alagna and Dan Chao. The company, which set out with an investment of $2.4 million during its establishment, is now preparing to step into the world of blockchain. Core Loop is planned to bring a player-oriented economy-centered MMO to the world of NFT and blockchain games, which have shown great growth in a short time.

The company’s investors include Andreessen Horowitz, Galaxy Digital, Initial Capital, Dune ventures, 1up Ventures, and Sisu Game Ventures. Speaking on the subject, Dan Chao said:

“Vincenzo kept asking me if we wanted to add blockchain to it, and we decided to do it. Blockchain is becoming more and more popular, and once we sat down and started to do the design of how it actually fits into the game, we convinced ourselves this looks pretty exciting. We think it can work and it does feel like adds a lot to the game. It doesn’t take away from the game.”

2021 has been a very productive year for the gaming industry. In the first three quarters of this year, agreements worth 71 billion dollars were signed in the industry. The great rise of NFT games in this productive period seems to have pushed Core Loop company to blockchain-based games. It is also among the targets to increase the company team, which currently consists of 15 people, to 25 people in a short time.

NFT Games
NFT and blockchain games are rising day by day.

Vincenzo Alagna, one of the founders of Core Loop, expressed his thoughts on the subject as follows:

“We think the player should be more in control of the game. We analyzed how to solve that issue in multiple ways. There has been this convergence of Web 3, blockchains, governance coming together. We want to shift some of the control to the players, and we have this trust layer. We looked into the different options. We saw others validating the technology. It turned out the climate was right for us to use it.”

Blockchain technologies significantly affect the game world, starting from the “decentralized economy” trend. It looks like the consecutive NFT game news and the launch of blockchain games will continue for a while. The future of the title will depend on the projects that succeed in this period of the industry. In this respect, every new initiative and game has a decisive role.

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