Blockchain gaming startup N3TWORK Studios announced Wednesday that it closed a $46 million Series A funding round.
Griffin Gaming Partners, a venture firm focused on financing gaming startups, led the round. Additional participants include Kleiner Perkins, Galaxy Interactive, Floodgate, LLL Capital, N3TWORK Inc (the parent company of N3TWORK Studios) and others.
N3TWORK games incorporate free-to-play elements and blockchain technology such as non-fungible tokens, into their mobile games.
The firm intends to use the funding to continue building out its web3 gaming titles Legendary: Heroes Unchained and Triumph, Forte to platform its games and build out the tokenomics.
Over 60 individuals from the entertainment industry, such as EA, Zynga, Warner Brothers, and Disney, comprise the N3TWORK team.
“We're a group of passionate veteran game makers who see a generational opportunity to leverage our expertise building and operating free-to-play games to create authentic web3 experiences that can reach audiences of millions of players,” said N3TWORK Studios president Matt Ricchetti in a statement.