NFT gaming studio Vulcan Forged raises $8 million in Series A round
Quick Take
- SkyBridge Capital led an $8 million investment in the NFT-based gaming firm Vulcan Forged.
- Investors were given the option to invest an additional $33 million.
- Vulcan Forged will use the funding to build out its online game VulcanVerse, expand its NFT-based gaming offering and to grow its team.
The NFT-based gaming firm Vulcan Forged raised $8 million in a Series A funding round.
The round was led by investment firm SkyBridge Capital, according to a company release. SkyBridge was given the option to invest an additional $33 million in Vulcan Forged.
Vulcan Forged will use the fresh funding to build out its multiplayer online game VulcanVerse, expand its offering beyond its current 13 NFT gaming platforms and continue growing its team of 130 individuals. After two years, the firm has 200,000 regular players and built 15 games.
SkyBridge announced its interest in funding web3 startups in July of this year via a new investment fund, maintaining the firm’s vision to be the vanguard of decentralized finance.
Venture interest in blockchain-based gaming remains high — even seeing a 66% jump in month-over-month funding from July and August, The Block previously reported.
This article was updated after publication to clarify information on the backers of the round.
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