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Gulf Press > Business > Crypto > Pantera Capital Leads $18M Funding Round for NPC Labs
Crypto

Pantera Capital Leads $18M Funding Round for NPC Labs

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Last updated: 2024/07/22 at 5:35 PM
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NPC Labs, a startup founded by former members of Base, has recently closed an $18 million Seed Round led by Pantera Capital for gaming projects. Other investors in this round include Makers Fund, Hashed, Collab+Currency, Sfermion, Mirana Ventures, Bitscale Capital, and Mantle EcoFund, bringing the total investment to $21 million including prior Pre-Seed funding. The company aims to accelerate the onboarding and development of onchain gaming as part of the B3.fun ecosystem, a gaming platform built on Coinbase’s Layer 2 network, Base.

Daryl Xu, Co-founder and CEO of NPC Labs, highlighted the challenges faced by game developers in today’s competitive market. Developers often struggle with bringing their games to market, relying on publishers for support, marketing, and distribution, in return for a significant share of the proceeds. NPC Labs aims to make game development accessible to everyone while giving developers more control over their games and revenue, ultimately benefitting both developers and gamers.

Web2 game developers are increasingly interested in onchain gaming, but they may not fully understand the complexities involved in building a protocol that is both user-friendly and scalable. Viktoriya Hying, co-founder and COO of NPC Labs, emphasized the importance of removing barriers to entry for players by creating a universal console, B3, where users can access multiple games without the need to bridge or switch networks. With built-in chain abstraction, B3.fun aims to provide a seamless user experience for gamers.

B3.fun is currently in testnet and supports games built on Ethereum, Base, and other EVM chains, with plans to onboard games from other chains such as Solana in the future. This approach ensures a smooth gaming experience for players, allowing them to easily log in and start playing without the need for complex network setups. Franklin Bi, general partner at Pantera Capital, praised NPC Labs’ infrastructure and tools, stating that they will enhance Base and empower developers to create innovative games and onchain experiences for users.

NPC Labs envisions redefining the onchain gaming landscape, providing developers and players with more freedom and opportunities to explore and enjoy blockchain-based gaming experiences. By leveraging the B3 ecosystem, developers can create engaging games while players can access a variety of titles from different chains through a seamless interface. The company’s focus on democratizing game development and distribution aims to revolutionize the gaming industry and bring blockchain technology to a wider audience. With the support of investors like Pantera Capital, NPC Labs is well-positioned to drive innovation in onchain gaming and create new possibilities for developers and gamers alike.

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News Room July 22, 2024
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