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Web3 game developer Planetarium Labs raises $32M

Singapore-based gaming-focused Web3 startup Planetarium Labs has closed a $32 million Series A funding round led by NFT game developer Animoca Brands.

The round also included Krust Universe, the investment arm of Korean tech giant Kakao, South Korean video game developer WeMade, and Samsung Next.

“Instead of just adding elements of in-game earnings or non-fungible tokens to games, we are reimagining community-focused content and providing tools for studios to engage more deeply with their players and investors,” said Kijun Seo, co-founder of Planetarium Labs, in a comment to The Block. .

The startup plans to launch several games together with “major gaming studios in the Asia-Pacific region.” Planetarium Labs also intends to expand the team from 25 to 40 people.

According to Seo, representatives of Animoca Brands will join the board of directors of the startup.

Animoca Brands previously acquired Grease Monkey Games for an undisclosed sum and game developer Eden Games for $16 million.

Recall that Bank of America analysts noted the interest of investors in the industry and the Web-3 segment against the background of the crypto winter.

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My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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