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Big Time Studios Raises $10.3M in Series A Funding to Bring NFTs to Popular Video Games

UTC by Benjamin Godfrey · 3 min read
Big Time Studios Raises $10.3M in Series A Funding to Bring NFTs to Popular Video Games
Photo: Big Time / Medium

In line with the growing number of innovators making an entry into the NFT Metaverse, Big Time Studios is looking to leverage the growing demand and marketplace for in-game NFTs. 

Big Time Studios, a new major player in the Non-fungible Token (NFTs) ecosystem has just emerged with huge promises to bring NFTs to popular video games. The blockchain startup has announced it has raised $10.3 million in a Series A funding round to bring this plan into reality.

As reported by Coindesk, Big Time Studios was founded by Ari Meilich, credited with his work with Decentraland, one of the first and most established multiplayer role-playing metaverse built on the Ethereum blockchain. Big Time Studios will seek to propound on the features of Decentraland by bringing blockchain-backed games to a mass audience.

The project has garnered a lot of interest from the crypto community. Per the Coindesk report, the backers of the Big Time Studios project who also participated in the funding round include North Island Ventures, Digital Currency Group (the owner of CoinDesk), OKEx’s Blockdream Ventures, Sam Bankman-Fried’s Alameda Research, USDC builder Circle, and Ashton Kutcher’s Sound Ventures. Besides this, Big Time Studios says it is almost set to close an $11 million to invest in game companies that will adopt its technology.

Meilich said the new outfit will launch its own games to gain entry into the market at the onset.

“As a way for us to get to market, we are building the first game. … It’s a multiplayer action-RPG where you can team up with up to six people and go into dungeons where you kill monsters, some of which are going to be dropping valuable loot,” Meilich said in a statement, adding that the games are designed to let people with “zero blockchain experience are going to start collecting NFTs that have real-world value without having to have any previous knowledge about what blockchain technology is about.”

The gaming platform is built on the Ethereum network, however, the tech allows the system to scale off-chain to save on gas fees.

Big Time Studios Leveraging the Huge Marketplace for In-Game NFTs

In line with the growing number of innovators making an entry into the NFT Metaverse, Big Time Studios is looking to leverage the growing demand and marketplace for in-game NFTs.

“The market for in-game assets is massive, and yet in today’s world, players do not possess and usually cannot trade the items they purchase,” North Island Ventures managing partner Travis Scher said in a statement. “In-game NFTs can give players true ownership and their proliferation can bring the Metaverse one step closer to fruition.”

Meilich’s team includes his Decentraland colleague Thor Alexander and others coming from top game developers including “World of Warcraft,” “Call of Duty” and “League of Legends.” Their proposition notably has a compelling business case in that what they are offering is “not only good for the players, because they have more control over their items, but it should also be good for the economy of the game studios, because was the items are transferable.”

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Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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