Planetarium Labs, a gaming firm which is community driven, has managed to raise $32 million in funding for building a gaming ecosystem. This funding drive was backed by Samsung, WeMade and Animoca. The gaming ecosystem will be built on a blockchain. Players will be able to participate via the game network and community members will also be present at the table.
According to an announcement made on Thursday, July 7th, the company plans to develop its gaming environment on the Libplanet technology. The network will be open to gamers to join and will use open-source content for development. Doing so will offer users a chance to make their voices heard.
Planetarium intends to invest in expanding basic tools which have to do with gaming driven by the community and also to deal with player governance. It will help key studios to deliver a great web3 experience in gaming. The idea is to concentrate on using the Libplanet ecosystem to develop decentralized gaming and set up many projects. One of these projects includes setting up a fund and programs which actively encourage involvement.
The raising of this capital has established a huge connections network for Planetarium in Asia such as Animoca, Krust Universe and Kakao, a technology giant based in South Korea. Animoca has made its presence felt in the Web3 sphere. It has holdings include Axie and The Sandbox.
Gaming on the blockchain has been gaining traction in the last few years. The gaming industry is looking at ways to use other models while moving away from the tried and tested centralized method. As gamer numbers rise, crypto gaming has also become very popular as a source of revenue. Gaming companies are trying to cash in by offering developers a steady revenue stream, while ensuring players get value for money