LootRush, a platform that aims to improve user access to blockchain games, has raised $12 million in seed funding.
The round was led by crypto VC firm Paradigm, with participation from Andreessen Horowitz. Other backers include Y Combinator, Brex founders, and angel investors like the founders of Axie Infinity, Plaid, Wildlife Studios, Dapper Labs, The Chainsmokers, and Vivi Nevo.
LootRush is trying to address three problems that game developers face when trying to get games to reach mass adoption, according to its founders: they’re expensive, time-consuming to start playing, and hard to set up.
“My team’s mission was to eliminate all of the tiresome barriers of entry that can take hours for players just to play great games,” said LootRush CEO Anderson Ferminiano in a blog post announcing the funding round. “What if playing a game with Web 3 technology was as easy as playing a game on Steam or Mobile Game?”
LootRush focuses on making blockchain games “as easy as a couple of clicks” to start playing. A player chooses a game, selects NFTs, and starts the game. It also focuses on cutting down the time to start playing from “a few hours to a few minutes” and aims to make NFTs available at a lower cost.