Planetarium Labs is leading the foray into Web3 gaming with a $32M Series A funding that was led by Animoca Brands and joined by Krust Universe, Samsung Next, and Wemade. The funds will be used to build Planetarium Labs’ open-source and decentralized gaming ecosystem through the development of fundamental tools for community-driven gaming and player governance projects.
The investment round demonstrated powerful and strategic backing for Planetarium Labs’ mission to power the next generation of web3 gaming. Animoca Brands, in particular, is a forward-thinking company with a strong focus on blockchain and NFTs. The team at Planetarium Labs is thrilled to have such supportive investors as they continue working hard to enable a new era of decentralized gaming.
According to Yat Siu (Animoca’s co-founder and executive chairman) “we strongly believe that the future is massive decentralized worlds in an open metaverse, which is why we are delighted to support Planetarium Labs’ vision of community-centric blockchain games that empower players with creative freedom and full digital rights.”
Expanding Partner Networks
In addition to Animoca and the VC firms mentioned above, Planetarium Labs is working closely with major game studios from the APAC region to bring some of the world’s most popular games to the Web3 space.
“As we continue to onboard major gaming studios to be a part of this journey, we’re growing more eager to see what the future of the open metaverse holds,” said Planetarium Labs CEO Jaesuk Kim.
With this latest round of funding, Planetarium Labs is in a strong position to make a big impact in the gaming industry and continue to build out its open-source and decentralized gaming ecosystem.
A P2E Gaming Generation
The true origins of decentralized gaming can be traced back to the early days of the World Wide Web. There were no centralized servers or databases. Instead, all information was stored on individual computers, which were connected through a network of hubs. Since then, centralization has taken root through the rise of social media platforms, app stores, and other online marketplaces. However, the potential for decentralization has always been there.
A generation of gamers has grown up with centralized gaming platforms such as PlayStation Network and Xbox Live. These platforms have been incredibly successful, but they are also very centralized. That means that the companies that operate them have a lot of control over what games are available, how they are played, and how much players can earn.
Decentralized gaming platforms are different. They are built on decentralized technologies such as the blockchain’s peer-to-peer network. This means that there is no central authority controlling the platform. Instead, it is controlled by the community of users.
What’s in it for players
With decentralized gaming, game developers and players have the freedom to create whatever they want. They are not limited by the terms and conditions of a centralized platform. In addition, they can use any business model they want, including in-game microtransactions, subscriptions, or even advertising.
Furthermore, decentralized gaming platforms are more resilient to censorship. If a game is censored on a centralized platform, it is effectively removed from the market. On a decentralized platform, however, the game can still be played by anyone who has a copy of it.
Planetarium Labs, for instance, is building a game ecosystem on the Libplanet blockchain technology that will allow anyone to create, modify, distribute, and play games without the need for a central platform.
The goal is to create a new generation of games that are powered by the community and designed to be resilient to censorship.
Current market status
Planetarium Labs is not the only company working on decentralized gaming. Several companies such as Theta, Enjin, and Decentraland are also building platforms and ecosystems for decentralized gaming.
Compared to its competition, Planetarium Labs is the underdog yet it boasts a track record of playing a pivotal role in Nine Chronicles, a first-of-its-kind open-source online RPG running entirely on its blockchain. Nine Chronicles has since garnered an impressive list of backers ranging from Ubisoft, Animoca Brands, and Binance Labs to mention a few.
“The future of gaming is moving in a direction where the players and the community collaborate on a shared vision, and we are delighted to onboard our partners to realize together our vision of games owned and shaped by the community. We are sending our invites to creators and players to build and share their own unprecedented, decentralized gaming experiences,” said Planetarium Labs CEO Jaesuk Kim.
With the recent crypto market collapse, talks of the metaverse and NFTs (two buzzwords that go hand-in-hand with decentralized gaming) have all but died down.
However, the underlying technology and infrastructure for a decentralized gaming ecosystem is still being built as projects such as Planetarium Labs work towards their vision. It is still early days for decentralized gaming, but the potential is there for it to have a big impact on the gaming industry.
Decentralization is important for advancing digital property rights, Net Neutrality, and data privacy. It is a way of ensuring that the internet remains a level playing field for everyone. Hopefully, Planetarium Labs and other decentralized gaming platforms will help to lead the way.
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