Web3 social platform builder Plai Labs has announced raising $32 million in a seed funding round. The round closed on January 19 and was led by crypto investment firm A16z.
Plai Labs was established by Chris DeWolfe and Aber Whitcomb, former Myspace and Jam City founders. The company aims to build the next generation of social platforms by utilizing AI, Web3, and the experience of its executives in social media, game mechanics, and advanced technology.
Reportedly, the platform’s first feature will be Champions Ascension, an MMORPG where players can port in their existing non-fungible token (NFTs) characters, go on quests, trade items, fight in the colosseum, build dungeons and more.
Plai Labs also looks to use an AI protocol to help with user-generated content, matchmaking, and 2D to 3D asset rendering. The executive team commented on AI and their prior experience with social spaces:
“We love this intersection where AI connects with and inspires creators. If there’s one thing we learned while starting Myspace and building games that get downloaded in the billions at Jam City, it’s this: The experience needs to be fun and approachable to reach a broad audience of users.”
CEO and Co-Founder, Aber Whitcomb, added:
“Imagine being able to use your AI-based profile and putting it in any situation, like a piece of art. That has implications for games and the metaverse, inside Champions and also some other social platforms that we’re interested in developing down the road.”
DeWolfe, Yguado and Whitcomb established Jam City and brought it up to make nearly half a billion dollars in annual company-wide revenue. The company had seven top-grossing global game franchises.
Jam City is best known for mobile games like Cookie Jam, Harry Potter: Hogwarts Mystery, and Disney Emoji Blitz. The company has raised more than $650 million and currently employs over 900 people across ten studios in five countries.
