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Network Studios raises $46 million to create "crypto native" and hybrid blockchain games
The company is working on two RPGs called Legendary: Heroes Unchained and Triumph.
May 20, 2022
1 Min Read
Network Studios has netted $46 million in Series A funding to develop and publish blockchain games.
The investment round was led by Griffin Gaming Partners with additional backing from Kleiner Perkins, Galaxy Interactive, KIP, Floodgate, LLL Capital, and N3TWORK, Inc.
The cash injection will allow Network to launch its first two web3 titles, Legendary: Heroes Unchained and Triumph.
Legendary: Heroes Unchained will be a play-and-earn RPG that's described as a "crypto native title." Triumph, meanwhile, is being pitched as a real-time multiplayer RPG that offers a "hybrid of free-to-play and web3" with more mass market appeal.
Network was formed in January 2022 and comprises veterans from companies including EA, Zynga, Warner Brothers, and Disney who have experience building and supporting live service titles.
The company hopes to expand the crypto games audience and deliver experiences that show consumers how web3 will benefit "players of all types." To achieve that goal, Network will partner with blockchain technology solutions company, Forte.
"We believe in a future where game economies are more open and players own the assets they earn and purchase," said Matt Ricchetti, President of Network Studios.
"Reaching that future will require both expanding the core crypto gaming audience and demonstrating to the massive mobile free-to-play audience that web3 is a clear value-add to their gaming experience."
About the Author(s)
News Editor, GameDeveloper.com
Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.
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